When Adidas pulled out of their deal with Kanye West, that marked the end of Kanye’s “billionaire” status. I pointed out at the time that Kanye still (arguably) has a net worth of hundreds of millions of dollars, but on paper, no, of course he’s nowhere near billionaire status. If Kanye had been smart and cautious, he would have been saving his millions. Instead, he’s spent years blowing his money on a huge entourage, a Wyoming Dome, endless real estate projects, a ratf–king presidential run and… drugs, probably. All of which means that it’s not even about Kanye losing his billionaire status anymore, he could be in real financial trouble very soon.
Kanye West could be just months from financial catastrophe, Page Six is told. As the rapper is dropped by corporations and condemned by industry figures, sources say that while he has a large stash of cash, he also has vast expenses and could be in trouble soon if he doesn’t find a way to turn the tide.
Sources familiar with his finances say that West has five sources of income, and that four of them have been either completely shut down or badly compromised by his anti-Semitic outburst and support for white supremacists. We’re told that in recent years, West has made money from his massive Adidas deal, his Gap deal, his music catalogue, selling new music and concerts.
Adidas — which is the real engine for his enormous wealth — already said earlier this week that, after it ended its massive Yeezy sneaker deal with him, it would immediately halt payments. And sources say that it will be hard to fight that decision, because his threats against Jews and the incident in which he played porn to Adidas execs “mean they can play hardball,” according to an insider.
The source says that Gap, which ended its two-year-old deal with him in September, owes him some money for the YEEZYxGAP products it sold between the end of the deal and Tuesday, when it announced on that it was pulling his goods from shelves over the controversy.
As far as concerts — which should be the easiest money a star like West can make, and a dependable source of quick liquid cash — go, he was due to have a show at SoFi Stadium in LA on November 4 but that was canceled by the venue, he has no more booked and it’s unlikely venues will book him amid the scandals, according to insiders.
And with new music, we’re told West has an album in the can, but as yet there’s no deal to distribute it. His deal with longtime label Def Jam ended in 2021. An insider says that the record will still probably provide something of a lifeline, but that he’s unlikely to net anything like as much as he has for previous albums.
“He’s a many-time Grammy winner and he has such a large following that his albums go platinum instantly,” said the source, adding that it’s hard to believe that nobody would be willing to accept such a can’t-lose deal.
That leaves royalties, which net him around $5 million a year, according to Billboard. “That’s about enough to pay his gas bill for his jet,” laughed an insider. In September the music trade reported that West’s team tested the waters for selling his catalogue for around $135 million, but didn’t appear to get any strong interest.
Meanwhile, we’re told he has “a lot of cash by anyone’s standards,” but he also has a “high cash burn rate.” West bought a $57 million Malibu, Calif., home last year and gutted it. It’s in the midst of being rebuilt virtually from the ground up. We’re told that project is severely at risk because of his financial troubles. He also has a slew of other homes, but we’re told many of them are mortgaged.
Yeah, I actually agree with this analysis, surprisingly. I think Kanye does have millions saved and it would be enough for all of us to live comfortably for the rest of our lives. But if Kanye continues to live this way and spend this kind of money, his savings will be depleted in a year. I don’t feel sorry for him either – f–k this dude. I hope he’s broke as hell. I hope he has to sell all of his dumb sh-t. I hope no one wants to buy his dumb f–king dome.
Photos courtesy of Backgrid.
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- Los Angeles, CA – Kanye West and Kim Kardashian reunite at North’s basketball game. Pictured: Kanye West BACKGRID USA 28 OCTOBER 2022 USA: +1 310 798 9111 / usasales@backgrid.com UK: +44 208 344 2007 / uksales@backgrid.com *UK Clients – Pictures Containing Children Please Pixelate Face Prior To Publication*
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- Los Angeles, CA – Kanye West and Kim Kardashian reunite at North’s basketball game. Pictured: Kanye West BACKGRID USA 28 OCTOBER 2022 USA: +1 310 798 9111 / usasales@backgrid.com UK: +44 208 344 2007 / uksales@backgrid.com *UK Clients – Pictures Containing Children Please Pixelate Face Prior To Publication*
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- Los Angeles, CA – Kanye West and Kim Kardashian reunite at North’s basketball game. Pictured: Kanye West BACKGRID USA 28 OCTOBER 2022 USA: +1 310 798 9111 / usasales@backgrid.com UK: +44 208 344 2007 / uksales@backgrid.com *UK Clients – Pictures Containing Children Please Pixelate Face Prior To Publication*
Conservatorship to save his money–oh wait, that’s just for women.
But seriously though, Kanye is one mea culpa apology and “I’m taking my medication now” away and he’s back with a vengeance. He gets all his deals back, then he feels powerful and goes off his meds again. I think this is the cycle that Kanye will be riding for next decade
That’s an upsetting thought but you’re probably right. He needs to hit financial rock bottom to lose his power, but that might never happen.
I…..don’t see him being “fine” after this one….like Rosanne Barr did…he went too far with the WRONG folks
That’s an interesting point. I do hope this is the end of his cultural relevance. I’m not sure how rich or well regarded Roseanne actually was, but when she was cancelled it was pretty final.
ITA and wouldn’t be surprised if he is already working with a PR firm to engineer his comeback.
Would he listen to anything a PR firm would have to say? He keeps firing his lawyers.
Actually, I think the lawyers keep firing him. A PR firm would need to get their money up front and work to protect their own reputation after he ignores their advice. There are also a number of vendors (probably for production of his shows and listening events) that have not yet been paid.
I honestly think those working with him on the high-ticket partnerships are glad to no longer be working with him. While he was on his meds and Kim+family were trying to keep him balanced, the execs were entertaining him for the cash waterfall…but as soon as I saw that video of him showing p–n clips to colleagues who were disgusted, I knew they were just waiting for a reason to end the contract.
This. He seems like a nightmare on a good day.
The partnership should have been terminated as soon as he showed porn in the workplace. They were willing to overlook that until the couldn’t.
@Tacky, Billion dollar deals don’t/very rarely get cancelled because of internal sexual harassment. (Unless the contract was written very, very well.) Maybe a buy out? The contract would most likely not be renewed in the future, but getting out of it then would be expensive, with lawsuits and all.
What would get the contract cancelled? Kanye making anti-semitic remarks at the same time mentioning Adidas and saying, “They can’t get out of the contract.” That gave Adidas the out.
Now you have company reputation which affects stakeholder value and now execs have a fiduciary duty to reduce/eliminate harm to the company and cancel the contract. And I’m *sure* the contract had something about *that* being a reason to get out without being sued written in there somewhere.
Kenye will be fine.. he has mega ppl behind him. He’ll be back to spewing hate against liberals, blacks, and other minorities and he’ll be praised as a genius once again.
Serious question for the CB fashionistas: Is “Kanye the designer” real? I see him sitting in meetings yelling “puffy shoes!” and “more mud!” storming out and leaving the actual work to other, more talented individuals. I don’t see him having the patience or capability to take the trip from idea to design to construction to marketing, etc. Meaning his participation, his name and association, are for clicks and attention. If so, Adidas can just find another name – he isn’t indespensible.
I could be completely wrong, I had an office job so no idea how this type of creative job works, I just look at him and do not think – that guy is a fashion genius lol.
Sorry, indispensable, not enough coffee 🙂
Adidas has already said the designs are theirs. They basically licensed his name. However, “Yeezy” is his, so not sure what will become of the shoes. Theoretically, Adidas Can sell what are known as Yeezys under another name and Kanye Can sell any shoe and call them Yeezys (thereby watering down Adidas’ market share). It’ll be interesting to see what happens.
@ LooneyTunes
Talking about Yeezy’s, it really bothered me when Khloe tweeted about how Anti-Semitism is wrong but then two days later was pap’d wearing Yeezy’s. It’s like whose side are you on? But then again, Khloe has poor judgment. Tristan was seen at the Kardashian Halloween party over the weekend.
He’s about to discover his real friends were the people reaching out and telling him to stop… and not the ones with their hands in his pockets, saying yes and encouraging him to forgo his mental health. Let’s see if he rants about any of them on social media the way he did the people who cared about him enough to say no. *shrug* this is the best comment I’ve seen for this type of situation: I don’t have much sympathy for someone in the Finding Out stage of FAFO
What is it with Kanye and Kim’s obsession with buying homes only to destroy them.
It’s seems to be a ultra wealthy status thing to do…
buying a dream house on ideal place and destroying it so you can build a brand new home to your own (bad) taste.
Tiger Woods ex wife did it with her big divorce settlement. And she is not alone in this, but others are more discreet.
Elle, Tiger’s ex, rebuilded on the property because it was not up to standards and code for the weather that Florida’s receives. That I do not blame her on.
The house Elin bought and tore down was riddled with rot and mold and couldn’t be renovated up to code. She let Habitat for Humanity salvage everything that was still usable.
Kim Kardashian must be fuming mad at him. How dare he ruin their children’s patrimony because he couldn’t keep his anti-semitic mouth shut for crying out loud. If Kim was real smart, she would drag Kanye’s sick ass to court and force him to set up trust funds for their children before he loses EVERY single penny and thing he owns.
Isn’t Kim ridiculously wealthy herself? I agree that her lawyers should move on this quickly because it’s the right thing to do, but would the children really feel the financial difference given how rich they’ll be any way?
When their children are fully grown they very well might resent the fact that they could have even been richer but daddy couldn’t keep his nasty mouth shut. Remember, many of us are greedy and the more we have the more we want.
That also explains him lashing out at the mother of George Floyd’s daughter saying she was being greedy. Yeah f@ck him and the people who enabled him all these years. They are all probably fleeing like rats off a sinking ship.
Haven’t Geo. Floyd’s family and friends been through enough already? In my opinion, the sooner Kanye (or should I say “GONE-ye”) goes away, the better. I suspect that even if he comes back after a while, he will not have the same ability to make big deals as before.
I think he *maybe* has a million or two saved. Being worth millions isn’t the same as having millions. Not only his tangible assets, but artists also have to pay their management and talent agencies and lawyers, etc. Granted those have dropped him, but their bills are still due. I actually think this is a really bad thing for him – he’s already gone off the rails and this is going to turn him desperate. A desperate man is a dangerous man.
He has so much property and huge estates, and you have to pay property tax, and insure the property, and maintain the landscaping, etc. Having expensive things is very expensive to maintain, even if you don’t buy anything more.
I could see him going the way of Michael Jackson. There were plenty of people willing to LOAN him money, in order to set terrible terms and take when he couldn’t pay.
See also: Trump, Donald J.
Yes, Lucy, good point. Or Elan Musk. He could just get bankrolled by the Saudis or Russian oligarchs.
He’s recently been “apologizing” (we know he means what he says) but it doesn’t sound like too many are receptive. I think its too little too late and even some prominent people in the Black community have awakened to Kanye’s bs. Yes, once again he is trying to get the Black community on his side, except his hypocrisy and anti Black comments are now being called out…repeatedly
My Facebook timeline filled with kanye support. Because this was his “master game plan” all along ect… its fascinating how people bending over backwards for him.
Came here to say this! Literally hundreds of pro Kanye comments on critical Insta posts by e.g. Diet Prada and Sean King along lines of “ThIs WaS His mAsTeR PlAn. YE iS a GeNiUs! He wAs antI-SeMiTiC to CaNCel AdiDaS CoNTraCt aNd CoNtRoL hIs BrAnD. NoW hE GoNnA mAkE bAnK, fOoLs!!! 🤦🏼♀️🤦🏼♀️
Identical response to Musk and Trump fanboys. And dare I say it, Wails derangers.
Yep! Same here. Someone (black) told me that Kanye should have worn an All Lives Matter shirt but he knew that’s what Kanye meant. *facepalm* another POC FB friend said he agrees with Kanye’s POV on Jewish people. *face palm* it’s like shades of Trump. His supporters would explain to me what he “really” meant. I can’t believe it. I can’t believe non white people are Republicans. Just don’t get it!
He fcked around one times to many and now he’s finding out. Good thing that Kim has custody of the kids and that they are nowhere near this dumpster fire of human trash that is their sperm donor.
I really love this for him. FAFO.
PS. Please do not come to black churches or women for forgiveness. Your choices and misogyny while not shared are not shared. Find solace and comfort with the MAGA crowd
Exactly. He and Candace can befriend the white supremists and laugh nervously at all the “jokes” the supremacists make toward him. Both of them will soon discover that even the “good ones” like Clarence Thomas and themselves will be sent to the camps if it comes to that, literally or figuartively. There’s no room for them in the Great White Utopia those folks envision.
Does anyone know anything about divorce law? Will Kim have to pay him alimony bc of his sudden financial downfall or does it not affect her dice it happened after she was declared single?
He won’t be able to stop his spending, which I’m guessing was already cannibalizing the massive wealth he could have been saving. And there’s no way he could both retain & listen to a PR firm to rehab his image. My guess is Kim will quietly buy out his 5% interest in SKIMS since he’ll need cash, then Kanye will do the rounds on far right circuits until he inevitably Lara Logans himself out of that racket, too.
Play stupid games, win stupid prizes. I don’t feel sorry for him one bit. His comeuppance is long overdue, remember when he said salvery is a choice? He should have lost his deals right then.
💯 As a Black woman, I was done with him when he said slavery was a choice! Balenciaga, vogue, and Adidas et al should have dropped him then.
@Nlopez, Me too. I’m also a Black woman and Kanye disgusts me. How anyone can say slavery was a choice is mind-boggling. But coming from a Black man, it was especially egregious. Yet his white fans ate that sh*t up. I was done with Ye the moment he said that. I saw him for who he really is: a pathetic self-loather. I have no time for Black people who hate themselves because they buy into societal norms.
THIS!!!!!!!!
I know it doesn’t affect me because it’s not my money but hearing about celebrities blowing through huge amounts of money and going broke grinds my gears.
Such waste! They acquire far more than the average person could ever see over several lifetimes and it’s just thrown away.
It really pisses me off too, @SEAN. We’re out here worrying about rent, gas, and groceries while they spend $100K on balloons and shit. Eat the rich!
I had a way too long Kanye phase that is firmly over. The GOP is now in their Kanye phase and I’m sure it will be much shorter. Maga doesn’t listen to his music and they don’t buy his clothes. He is a loud cog in their racist, cruel machine and he is nearing his end of being useful. He is for sure in FAFO mode but it can, and likely will, get much worse.
That’s why he and candace (who is already moving on the rapper M.I.A, as her next prey with a rich baby daddy from the bronfmans, a jewish billionaire family already plagued with members linked to the nexium sect scandal) are trying to prevent George Floyd family from suing them for these 250 millions …
Kanye has already some trials from people he didn’t paid for helping his church sessions, his donda school organisation, etc.
His behaviour and rants are absolutetly stupid and malicious.
I really hope his enablers will have to take their responsability in this chaos
I wonder how much his music catalogue is worth? Would anyone buy it? He’s got investments he can still make money off of and he has revenue from SKIMS. He owns many homes, and some fast food chains as well I believe. He’s still richer than most of us. He needs to listen to whomever is managing his money. I saw an interview he did outside of North’s basketball game the other day and he was still saying sh*t about Jewish people. He also said God had to humble him and take his money away. I’ve seen other racists come back and be accepted. I guess we’ll see what happens. People love to hate, but they also forgive quickly. We’ve seen that time and time again in Hollywood. Someone even posted a comment Kim made years ago defending Jeffree Star after he made racist remarks. She said she doesn’t like to judge and that everyone deserves second chances lol wonder if she still believes that now.
Kanye has ALWAYS lived beyond his means, I never believed for one second he was a billionaire. At the rate he spent money, I always hoped he and Kim kept their assets separate. He has 4 kids, I figure he owes child support for all of them and that’s 4 college funds though I doubt any of them will go to college, from a quick check the only Kardashians to go to college are Kourtney and Rob (they both graduated, not even Kris went to college). He’ll have to sell his Wyoming ranch and whatever other properties he’s bought to make ends meet. I don’t think he’s necessarily done though… Chris Brown was eventually forgiven and so will Kanye.
I don’t think Kim or Kylie are billionaires either. It’s all smoke and mirrors. If Kim gets full custody of the kids then she won’t have to pay child support right? They are already legally divorced so I’m guessing he cant go after spousal support now either. Sadly, I do think you are right, Chris Brown still has a career…Kanye will too. Especially if he puts out a really good album in the next few years.
I would be surprised if Kim K. requested child support from Kanye. If I were in this situation, and if I were as wealthy as Kim K., I would waive child support just to move the custody process forward and be done with it. Kanye intentionally delaying all the proceedings by firing his representatives or being fired by his representatives.
I hope he has enough saved for his mental health issues. THAT should be what he spends his money on. I wonder if Kim will have to support him if he actually goes broke. Maybe he’ll just file for bankruptcy
I wouldn’t put it past Kanye to extort Kim at this point. “I avoid child support, you pay me a $300 hundred million, and you get to keep all of the skeletons in your closet.”
You know what, I wonder if he’ll write a tell-all book one day. I doubt Kanye signed an NDA. That book would be a huge seller.
What publisher would take on a Kanye book? The legal liability would be off the charts. Does this guy keep receipts? Can’t a lot of the things he says be subject to claims that he was mentally ill, and in a manic phase? A future, medicated Kanye could publish a ghost-written book, but I don’t think anyone would touch Kanye today.
@lanne
Just because he has a mental illness doesn’t mean he’s a liar. We know he has dirt on the Kardashians and maybe he does have receipts, who knows? I think down the road he for sure could get someone to publish a book. People just as bad (and worse) have had books published. There is a reason the Kardashians walk on eggshells around Kanye. They know he has a mouth and isn’t afraid to use it. I just feel bad for the kids because they will have to deal with ALL of it.
In the battle of Kanye West vs Kris Jenner, my money is without question on Kris. You know the old saying…the devil works hard but Kris Jenner works harder.
Kanye has lied on more than one occasion. That combined with his various -isms and -phobias make him an unreliable narrator, even if you ignore his mental illness. Wanting a memoir from him, Johnny Depp, Harvey Weinstein, or Ezra Miller would be like glamorizing their abusive behavior. Yuck.
Comments like this always make me laugh. Do you honestly think any dirt he has on the Kardashians is half as damaging as the dirt they must have on him? No one has ever respected them (except for Kris, as a businesswoman), but with Kanye it’s different. He was and is still in some quarters considered a great musical artist. He’s a Hotep fave. They can hurt him more than he can hurt them. I mean, just think of what confirmation of the Ricardo Tisci rumors would do to his Hotep base?
And you KNOW Kris keeps receipts.
I rarely post – but – this guy deserves to lose it ALLLLLLLLL. he’s always been a d!ck but after his many verbal assaults on Kim (also not a fan), it was so despicable in my eyes that he deserves to lose it all – money, access, fame, respect. All of it.
His assault on Amber Rose showed me who he was, and I didn’t know an Amber Rose existed before his disgusting attack.
It was disgusting for sure, but we should remember it was actually Kim who said Kanye had to take a thousand showers before she would let him touch her.
If this is even true ( I highly doubt it) but if it is, this might be the point where he is forced to get treatment.
What “treatment” is there for being racist though?
Well, usually rich people cry ‘addiction!’ and go to rehab.
For the sake of his children, burning through all of his money on ludicrous real estate remodels might be the best thing here. How else will someone with his immense wealth and fame hit rock bottom and be forced to make changes?
Kanye forgot he wasn’t white and has no protections
This☝🏾
Ope. He sho’ did. 🤷🏾♀️
Yup!
The schaudenfreude about this is GLORIOUS. This article about how he’s lost most of his ways to make money and is going to spend himself broke in a few months for being stupid is a delight. This makes me happy. Karma finally kicking in, cancellation actually doing some good.
(Now do Elon next, universe.)
The universe is certainly working on Elon, but it might take a while. For better or for worse it’s looking like he’s going to take Twitter down with him, let’s hope the collateral damage isn’t much more than that.
I am proud of the world’s reaction to Kanye West here, but I’m shocked that the line he crossed is only using deliberate, clear speech when we all realize sometimes this sickness is spread through subtle coaxing and brainwashing (the kind that recruited Hitler supporters back in Hitler’s time). Why don’t we react this swiftly and clearly with people who use old-timey Hitler speech tactics?
I love seeing action against Kanye and I’m sorry to see Kanye fall from once greatness. Companies can obviously move quickly- which is reassuring.
But there’s so much more we need to be moving on yet we don’t make *any* moves. How do Fox and Trump and Jones et al get to go so far in untruths and hate with no such SWIFT punitive consequences?
Black, Jewish woman here. Dog whistles can be explained away because “that’s not what I meant! I love [ethnic group of choice]!”
In case anyone cares about lived experiences, the experience of living through Kanye’s tantrum as a mentally ill, Black, Jewish woman and having three communities looking at me to “make it make sense” has been hellish. Thanks, Ye, I hate it.
If there’s anyone that cares about this man, he’s screaming for help, but it’s best everyone covers their ears. He’s suicidal, but he can hurt someone rather than hurt himself.
He is not well. Hopefully if he’s not suicidal yet, he won’t be. But he does appear to be destroying himself & IDK why. I know he’s wacky, but I wonder if some of those “alt-right” crazies radicalized him.
After a period of forced “exile”, Ye will be back. It’s obvious that most folks have no problems at all with his misogyny and anti-Blackness. It was his anti-Semitism that upset people and gave banks and companies the fuel to burn ties with him. Once he has displayed proper contrition and has suffered through his financial losses and personal humiliation, he’ll be welcomed back. After all, he made his financial partners a lot of coin. Once he’s “rehabilitated” to their satisfaction, they will jump back on the money train.
Ye’s not done. He’s experiencing a delayed Karma, but it’s far from “game over” for Kanye West.
Nah. He’s a has-been at this point. Not that they won’t necessarily espouse someone just as bad in future, but it’s over for him specifically. He hasn’t been musically relevant in years (which honestly makes it easier for everyone to cut ties with him) and if his monetary and fashion deals are over then it’s *over*.
Wonder if this will affect the divorce in any way financially?
I don’t think releasing new music will help. Going platinum nowadays isn’t as easy as the article makes it seem and he’s gotta do press for new music unless he’s Beyoncé, which he’s in no state to do
Also he has no record label any more, who’s going to take him?
I think he is a major stakeholder in skims?
He should probably start making good with Kim because that brand is on fire atm
He is not he only owns 5% of the company.
Anyone here a medical professional familiar with DSM? Is Kanye schizophrenic? He’s extremely paranoid.
Guess he better start touring and working on that next album. I don’t know what he thought he was doing other than showing himself to be a fool with money who thought his money would insulate him from how this world really works. Did he really think he’s get away with his hateful rhetoric?