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Kanye West on the Way to Deep Financial Ruin as Companies Continue to Ditch Him Over His Anti-Semitic Remarks

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Kanye West on the Way to Deep Financial Ruin as Companies Continue to Ditch Him Over His Anti-Semitic Remarks

Edited by: TJVNews.com

It appears that rapper Kanye West and all the negative ink he has been getting lately could spell financial disaster for the billionaire rapper.

As West continues to commit career suicide by doubling down on his anti-Semitic tirades, company after company that he has any affiliation with are dropping him like a hot potato and speculation abounds about how long West can hold out from a monetary standpoint without any source of revenue generation.

The New York Post’s Page Six has reported that sources say that while he has a large stash of cash, he also has vast expenses and could be in trouble soon if he doesn’t find a way to turn the tide.

Those familiar with West’s formidable financial portfolio have said that four out of give of his streams of income at this juncture have severed ties with him or have been severely compromised, the Post reported.

The paper also said that West’s fortune is attributable to his highly lucrative deal with the Adidas sportswear company, his deal with Gap as well as his vast music catalogue and the sale of new music and his performances at concerts.

Of all of these, West’s enormous wealth comes from the Yeezy sneaker deal he signed with Adidas. The Post reported that the company has said that when they cancelled his contract earlier this week, they would immediately cease cutting checks to the embattled rapper.

If West should attempt to legally challenge Adidas for the broken contract and the loss of income, an insider told the Post that it will be difficult to fight that decision, according to sources, the Post reported.

The fact that West issued direct threats against the Jews as well as displaying raunchy pornography to executives at Adidas translates into the sportswear company sticking to its guns and not budging on its decision to let West go,  according to the Post report.

In September, Gap concluded its two year deal with West. The Post reported that the company owes him money for the YEEZYxGAP products it sold between the end of the deal and Tuesday, when it announced on that it was pulling his goods from shelves over the controversy that continues to swirl around him.

As an internationally known rap artist, West has always made a hefty buck performing at concerts but that avenue of revenue looks like it has been abruptly halted as well.

The Post reported that West was scheduled to perform at SoFi Stadium in Los Angeles on November 4th but that was canceled by the venue. After that  he has no more booked and it’s unlikely venues will book him amid the scandals, according to insiders who spoke with the Post.

In terms of producing new albums, the Post reported that West has one in the making but as yet there’s no deal to distribute it. In 2021, West’s deal with longtime record label Def Jam came to an end. An insider told the Post that the record will still probably provide some income for West but that it’s highly  unlikely that he will rake in the kind of profits he has from his previous albums.

The source told the Post of West: “He’s a many-time Grammy winner and he has such a large following that his albums go platinum instantly,” and added that it’s hard to believe that nobody would be willing to accept such a can’t-lose deal.

Billboard reported that West takes in about $5 million annually from music royalties. When speaking with the Post, the unnamed insider laughed at that amount and said,  “That’s about enough to pay his gas bill for his jet.”

Like many iconic recording artists, West would like to see his catalogue of music and his business team attempted to do so in September, the Post reported. They floated the number for the sale at $135 million but according to the report, there were few interested parties.

The Post also reported that, not surprisingly, West has “a lot of cash by anyone’s standards,” but he also has a “high cash burn rate.”

Last year, West plunked down $57 million for a home in Malibu, California and then had it gutted. The Post reports that currently it is being rebuilt from the ground up but the publication was told that due to West’s financial woes, the project is at severe risk and he may not have the monetary wherewithal to continue the rebuilding process.

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