Entertainment

Kanye West could face financial ruin within ‘several months’ as corporations continue to sever ties with controversial rapper


Kanye West was reported to be only “a few months” away from financial ruin like brands and corporations continue to distance themselves from each other from the controversial rapper.

While at the height of his wealth West was worth $1.3 billion ($2 billion), it seems he’s in danger of losing a large chunk of his fortune because four of the his five income pillars were closed or compromised, according to Page six.

“It’s all about cash flow and if cut when can he revive it,” a source told the outlet, adding that although West now has more than $100 million ($156 million) in the bank, he’s probably just enough to last “months”.

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Kanye West
Kanye West is said to be about to lose a huge fortune within ‘a few months’. (Getty)

The 45-year-old relies heavily on huge deals with Adidas, Gap contracts, music catalogs, new music sales and concerts. Indeed, the aforementioned retail giants abandoned him following his anti-Semitic outburst and the rapper’s scheduled November 4 performance at SoFi Stadium in LA was closed. box.

Meanwhile, Apple Music has also pulled Kanye West’s Essentials playlist from its streaming services, and his contract with longtime label Def Jam has ended in 2021 and won’t be renewed.

Page six makes it clear that while West has “a lot of cash by anyone’s standards,” he also has a “high cash burn rate.”

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Now, with the massive exodus from collaborators, West’s main source of income is likely to be royalties, his income being around $5 million ($7.8 million) a year. , according to Billboard.

“That was enough to pay the gas bill for his jet,” the Page Six source noted.

Adidas CMO Eric Liedtke and Kanye West 2016.
Adidas withdrew its deal with Kanye West last week following his hate speech online. (Getty)

However, this is not the first time West has found himself in financial trouble. In 2016, he revealed that he was owed $53 million ($82 million) due to efforts to launch his fashion line.

“I am writing this to my brothers while still in personal debt of $53 million… Please pray we get through this… This is my true heart…”, he said. tweeted at the time. “emotions… We won’t all be 100 years away but what did we do to help while we were here!!!”

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It looks like his now estranged wife Kim Kardashian has come to his rescue. Worth it in itself, the reality TV star at the time tweeted that she had deposited US$53 million into their joint account to bail him out.

“Busy earning 80 million [$124 million] check out the video game,” she tweeted, referring to her Kim Kardashian: Hollywood video game, generated an impressive amount of revenue within the first four months of its release in 2016.

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