Kanye West could face financial crisis within months

Kanye West may very well be simply months away from monetary disaster, Web page Six is advised.

Because the rapper is dropped by companies and condemned by trade figures, sources say that whereas he has a big stash of money, he additionally has huge bills and may very well be in bother quickly if he doesn’t discover a approach to flip the tide.

Sources conversant in his funds say that West, 45, has 5 sources of revenue – and that 4 of them have been both fully shut down or badly compromised by his anti-Semitic outburst and assist for white supremacists.

We’re advised that in recent times, West has made cash from his huge Adidas deal, his Hole deal, his music catalogue, promoting new music and concert events.

Adidas — which is the actual engine for his huge wealth — already mentioned earlier this week that, after it ended its huge Yeezy sneaker take care of him, it will instantly halt funds.

And sources say that it will likely be exhausting to combat that call, as a result of his threats towards Jews and the incident through which he performed porn to Adidas execs “imply they’ll play hardball,” in keeping with an insider.

The supply says that Hole, which ended its two-year-old take care of him in September, owes him some cash for the YEEZYxGAP merchandise it offered between the top of the deal and Tuesday, when it introduced that it was pulling his items from cabinets over the controversy.

So far as concert events go — which needs to be the simplest cash a star like West could make, and a reliable supply of fast liquid money — the rapper was resulting from have a present at SoFi Stadium in Los Angeles on Nov. 4. It was canceled by the venue and he has no others booked, in keeping with insiders, who add that it’s unlikely venues will e-book him amid the scandals.

As for brand spanking new music, we’re advised West has an album within the can, however there’s no deal to distribute it at the moment. His take care of longtime label Def Jam resulted in 2021. An insider says that the document will nonetheless most likely present one thing of a lifeline, however that he’s unlikely to internet something like as a lot as he has for earlier albums.

“He’s a many-time Grammy winner and he has such a big following that his albums go platinum immediately,” mentioned the supply, including that its exhausting to consider that no person can be prepared to simply accept such a can’t-lose deal.

That leaves royalties, which internet him round $5 million a yr, in keeping with Billboard. “That’s about sufficient to pay his fuel invoice for his jet,” laughed an insider.

Final month, the music commerce reported that West’s crew examined the waters for promoting his catalogue for round $135 million, however didn’t seem to get any sturdy curiosity.

In the meantime, we’re advised he has “a number of money by anybody’s requirements,” however he additionally has a “excessive money burn price.”

West purchased a $57 million Malibu, Calif., house final yr and gutted it. It’s within the midst of being rebuilt just about from the bottom up. We’re advised the challenge is severely in danger due to his monetary troubles. He additionally has a slew of different houses, however we’re advised lots of them are mortgaged.

West, after all, has been in cash bother earlier than. Let’s not overlook that he revealed in 2016 that he was $54 million in private debt, which was reportedly resulting from his many makes an attempt to launch a trend line, in addition to his free-spending type.

What it boils right down to, says an insider, is that West’s opulent life-style relies on the Adidas deal and the remaining was gravy. However with the sneaker model heading for the hills, he’s out about three quarters of his internet price, in keeping with Forbes — a giant gap to plug.

So sources estimate that that although he has greater than $100 million within the financial institution, he most likely has sufficient within the financial institution to final a matter of “months.”

“It’s all about money movement and if slash when he can revive it,” mentioned a supply.

A rep for West couldn’t be reached.