Kanye West Living Like a Transient, Blowing Through Money
Kanye West Living Like a Transient, Blowing Through Money
Kanye West Living a Vagabond Life ... Blowing Through Money
Kanye West is a billionaire, yet he's living like a transient ... with no place to call home.
Sources close to Ye tell us as of late, he'll rarely stay in the same place for more than a few days -- living out of fancy hotels and various rental homes. We're also told he spends money like it's nothing, recently fronting a ton of cash for his Yeezy show in Paris and of course -- the alleged purchase of Parler.
What's more ... our Ye sources tell us he's recently made some very rash business decisions as well -- most notably firing Shervin Pishevar from Yeezy and losing other advisors and publicists.
We've spoken to former friends of Kanye, one who told us, "He blows through his money like it's water" ... and there's some serious concern he could fall into financial ruin.
Ye revealed during his "Drink Champs" interview he had recently purchased a $50 million penthouse -- another massive expense -- in addition to his various other real estate transactions.
As we reported, Kanye bought a house next to the home Kim Kardashian now owns in Hidden Hills. The house needs a total redo, but Kanye wanted it so he could be near his children. He bought it nearly a year ago, but there's been little to no work done to remodel it. As far as we know, Kanye never stays at that house.
He's building a house in Malibu which is reasonably close to Kim's house, but he gutted it, and it's a long way from completion.
MORE INFORMATION
Kanye self-funded DONDA 2, because Def Jam did not renew his contract after he'd fulfilled his initial 10 album deal, as well as the listening parties for the album. Living in stadiums cost him an estimated $1 million a day.
He self-funded his YEEZY SZN line and fashion shows, including the one he did at Madison Square Garden, the one on Roosevelt Island where the models' shoes kept breaking and the PFW show he just did, which again cost millions that he did not recoup.
He contributed to his own presidential campaign.
He put up the initial capital for Donda Academy, his unaccredited warehouse school.
He self-funds his Sunday Services. He bought Parler.
He might lose the deal that brings him the bulk of his income if Adidas drop him, he made $141 million from it last year.
Shervin Pishevar, the man TMZ mentions in the article as someone Kanye recently fired, was Yeezy's Chairman and the man in the Adidas meeting trying to explain why Kanye was waving a Pornhub clip in the executives' faces, and telling them they were wrong for 'stealing' his designs (Kanye only owns the patent for the Yeezy slide. Adidas hold the patent for every other Yeezy shoe) that were like 'his child'.
'Net worth' is not the same as 'liquid assets', and liquid assets are not finite. This could easily be true. I don't doubt he's also in some debt. I assume Jay Z wrote that loan off years ago.
Kanye wasted a ton of money while he was running for president in 2020. He plans on doing the same in 2024.
Also when he abruptly cancelled his Saint Pablo Tour he was forced to pay an extremely large sum of money to the insurance but didn't have the money so Kim had to front the bill.
Kanye himself admitted that he was in debt and Jay Z had to get that $20M Live Nation loan for him
When this is claimed, it typically means the value of said person’s company is valued at $1 billion/ billions. The actual person does not have $1 billion in the bank. They are mega wealthy, but most of that net worth is tied up in the valuation of their businesses… meaning that shyt can plummet. I’m not sure what percentage of Yeezy he actually owns, but that plays a factor as well. Seeing as though he probably has shareholders that help keep his company afloat, he is going to have huge issues when they ultimately pull out. It will look like a house of cards collapsing on itself.
I don’t foresee him maintaining his billionaire status.
MORE INFORMATION ON ADIDAS
Adidas revenue is 30 BILLION a YEAR.
Yeezy makes them 1.7 billion a year. That’s a drop in the ocean for them. If he continues to be toxic they can and will end the deal (similar to JP Morgan).
He is 5% of their annual revenue. If he pushes this enough they’ll buy him out. Adidas OWN his patent and likeness and his partnership bans him from Yeezys likeness
They can kick him out and sell them themselves
But for a global consumer brand where marketing is key 5% of revenue is NOTHING. A few new shoes and marketing (what determines the consumer sectors sales) and they’ll add an extra 10%-20% without him
Adidas don’t need HIM and if he continues as he is just like GAP and JP Morgan they’ll sever ties. Adidas advisors will be discussing this right now
His biggest market is the USA if he continues on this path to maintain their brand (most expensive thing they own) they WILL cut him off. Due to his image in the USA
They don’t need him to make the shoes and he is never allowed to sell them independently. He will rant of twitter for some days then get over it.
His equity buy out will be big but as I said he’ll blow it…..
They’ll keep selling Yeezys. He is contractually never allowed to ever sell them independently or any likeness of the shoe…./
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