Kanye West’s debt isn’t actually in debt, but that hasn’t stopped him tweeting about it for the last 48 hours. The rapper has declared that he has $53 million in personal debt, but now sources reveal that’s not completely true.
Where does Kanye West’s debt come from? The answer, he has spent a lot of money, but it’s mostly on himself.
On Sunday, the rapper took to Twitter to make his big debt announcement.
TMZ sources connected to Kanye West say the $53 million reflects how much money ‘Ye has invested in his own companies related to fashion and music. For instance, he’s sunk $40 million alone into 3 seasons worth of Yeezy fashion. Since the money is tied up in a company he owns, but not lost, it’s a little unfair to call it “debt.”
Yeezy shoes are hot fashion items in 2016, but apparently Kanye didn’t get any money from Nike when he created the first version of the shoe and had to fund the design out of his own pocket.
Additionally, sources say he spent several hundred thousand to build sets for his last tour and to make his 2012 short film, “ Cruel Summer .”
Kanye West’s debt could also be attributed to spending lavish amounts of cash on his family. That would include the $74,000 bill he racked up for North’s 2014 Christmas gifts, $20 million mansion in 2014, and the 150 Christmas gifts he bought for wife Kim Kardashian-West in 2015.
I wonder how Kanye West ended up in debt. pic.twitter.com/fx4K7Onuyy
— Pundamentalism (@Pundamentalism) February 15, 2016
To try and recoup his money, Kanye West tweeted out to Mark Zuckerberg and Larry Page asking for financial help.
West continued with a series of Tweets directed to Zuckerberg through Sunday night and Monday morning.
Mark Zuckerberg I know it’s your bday but can you please call me by 2mrw … You love hip hop, you love my art… I am your favorite artist but you watch me barely breathe and still play my album in your house … World, please tweet, FaceTime, Facebook, instagram, whatever you gotta do to get Mark to support me … I’m this generation’s Disney … I want to bring dope shit to the world … I don’t have enough resources to create what I really can.
Targeting the two technology billionaires, Kanye continued his rant. “All you dudes in San Fran play rap music in your homes but never help the real artists.” He added that they were more interested in opening schools in Africa. “Like you really helped the country,” he said, implying that giving money him (one of the world’s most high-profile celebrities) would do more good for the world.
Late last night Kanye West’s debt tweets continued. Citing that people tried to use it against him in negotiations and that his dreams have put him in the position he is today
Meanwhile Kanye West’s debt has caused fans to take to GoFundMe.com and set up over 40 campaigns to try and raise money to get him out of debt. “Kanye West Needs Our Help,” “Get Kanye West His Money,” and “Help Kanye West Get Out Of Debt” are just a few campaigns that have raised $0.
Kanye West haters on Twitter have very little sympathy for his predicament.
Kanye West wants a public bail out (19x his debt) because his ego is too big to fail.
— Garrett (@Spottschrift) February 16, 2016
According to The Richest Kanye West has a net worth of $147 million and earnings of $30 million and $22 million in 2014 and 2015 respectively. So would you consider Kanye West’s debt to be real, or is this just another attention-seeking ploy?
[Photo by Kevork Djansezian/Getty Images]