Kanye West Discloses Financial Records Which Suggests He’s NOT A Billionaire
According to Business Insider, Kanye West is NOT a billionaire and has apparently lied about being one; this after the rapper-turned-politician disclosed his financial records to the Federal Election Commission.
While it’s required for any candidate seeking office to release their portfolios, West’s disclosure has the internet side-eying him as he his forms presented that’s he only worth “hundreds of millions of dollars,” — a statement following his claim that he’s worth $5 billion after his 10-year GAP deal.
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Previously it was stated that Ye’s deals with Adidas, Louis Vuitton, and GAP, coupled with his G.O.O.D. Music label profits set him up with a 8-figure net worth. However, Insider‘s findings show Yeezy valued three of his companies (Yeezy LLC., Yeezy Apparel LLC., and Yeezy Footwear LLC.) at $50 million per entity, with his Adidas & Nike ventures earning him $30 to $75 million. He also listed 29 various companies under his brand, citing that eight of them only earned him $5 million in 2019. Ye also noted his $100 million debt due to mortgages and bad business dealings.
In addition to his $100 million debt, Ye also noted how his brand also received millions of dollars in a PPP loan for COVID-19-related losses.
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