According to a recent rumor, the troubled rapper may soon face financial difficulties if he doesn’t figure out a way to improve matters after a hectic month that saw his contracts with Adidas and Gap canceled.
According to those familiar with his finances, West has five sources of income, and four of them have been severely harmed or totally shut off as a result of his anti-Black and anti-Semitic sentiments.
As a result of his recent actions, a number of his business partners have severed connections. Adidas said last week that their collaboration was ending and that payments would stop right away. His primary source of income was a multi-year contract he had with a German sportswear manufacturer.
After the Adidas deal expired, the former billionaire’s net worth reportedly fell to $500 million, and he declared that he had lost $2 billion in a single day. “I am not defined by money. I am the people,” West declared.
Even his live performances have suffered. It was claimed that Ye’s Nov. 4 headlining performance at SoFi Stadium in Los Angeles was canceled by the venue. It is unlikely that venues will continue to book Ye in light of the scandals.
Additionally, he has a brand-new album that hasn’t yet been distributed. Following the termination of his contract with Def Jam last year, he is currently without a record label or a music publisher.
“It would have to be someone willing to be ostracized,” a veteran music industry executive told Variety. Not to mention the employees, the other artists on the label, or the distributor “definitely wouldn’t stand for it.”
However, his lavish lifestyle cannot be supported by his music alone. According to Billboard, Ye earns $5 million in royalties annually. According to an individual who spoke to Page Six, “that’s about enough to pay his jet’s gas bill.”
Sources estimate that even though he has more than $100 million in the bank, he likely has enough to last a few “months” despite having “a lot of cash by anyone’s standards” and a “rapid cash burn rate.”
It all comes down to financial flow and whether or not he can resurrect it, according to a source.
