the rapper Kanye West who got into trouble with anti-Semitic statements and said on social networks that he was defending himself against Jews, received harsh criticism from many celebrities including the models Gigi and Bella Hadid, who have repeatedly attacked Israel’s conduct against the Palestinians. Not only from the celebs West stole from, but also from the companies he worked with, including Adidas and Gap, who chose to terminate the contract with him.
Now it has been reported to the entertainment website “pagesix” that the rapper may be months away from financial disaster. Sources said that while he has a large pool of cash, he also has huge expenses and could soon find himself in trouble if he doesn’t find a way to put more money into his account.
Sources familiar with his financial dealings say West has five sources of income, and four of them have been completely shut down or severely damaged by his anti-Semitic outbursts and disdain for the black struggle in America. The site was also informed that in recent years West has made money from his huge deal with Adidas, the collaboration with the “Gap” network, his music catalog, sales of new music and concerts.
America cancels Kanye West: The crash course of the world’s most famous rapper
The Adidas company, which is the real engine of his enormous wealth, already said at the beginning of the week that after it ends the cooperation with the rapper’s sneakers and immediately it will stop the payments to West. A source close to the rapper said that Gap, which ended its collaboration with him after two years together, owes him money for the YEEZYxGAP products it sold since the decision and until the products came off the shelves.
As for the shows — which are supposed to be the easiest money a star like West can make, and a reliable source of quick, liquid cash — he was scheduled to perform at Los Angeles’ SoFi Stadium on Nov. 4, but it was canceled and according to insiders, he doesn’t have another booked. As for new music, insiders said Lost has an album in the pipeline, but no plans to release it yet after his contract with longtime record label Def Jam expires in 2021. An insider told the site that the record will still provide a lifeline, but it is unlikely to fetch the sums it has earned on previous albums.
“He’s a multiple Grammy winner and has such a big audience that his albums go platinum instantly,” the source said, adding that it’s hard to believe that no one would be willing to accept such a can’t-lose deal. That leaves him with royalties that bring in about $5 million a year, according to Billboard.
He called for the killing of Jews. Kanye West (Photo: MEGA Vertical)“That’s enough to pay his gas bill for his plane,” laughed an insider. It was also said to have “a lot of cash by anyone’s standards”, but also to have a “high cash burn rate”. West bought a house last year for $57 million in Malibu, California, and is renovating it from the ground up. But the project is at serious risk because of its financial troubles. He also has a number of other houses, but those close to him say many of them are mortgaged.
West has previously been in financial trouble. As a reminder, he revealed in 2016 that he was $54 million in debt, which was reportedly due to his many attempts to launch a fashion line, as well as his excessive hedonism. Sources estimate that although he has more than $100 million in the bank, it will probably be enough to last him only “months”.
Rapper Kanye West (Photo: Reuters)