Kanye West may reportedly be months away from “financial catastrophe”.
Kanye West may reportedly be months away from “financial catastrophe”.
Sources told Page Six on Sunday (30.10.22) the 45-year-old rapper could face ruin if he can’t work out a way to stop brands cutting ties with him in the wake of his anti-Semitic outbursts.
An insider said the estimated $5 million a year he receives in royalties is merely “about enough to pay his gas bill for his jet”.
One source added even though Kanye has “a lot of cash by anyone’s standards” he also has a “high cash burn rate”.
Page Six quoted insiders saying even though the dad-of-four has more than $100 million in the bank, due to his lifestyle it could be used up in a matter of “months”.
One said: “It’s all about cash flow and if slash when he can revive it.”
Kanye’s team were last month said to have tested the waters for selling his music catalogue for around $135 million, but apparently did not get strong interest.
Adidas is halting payments to Kanye, while Gap ended its two-year-old deal with him in September.
The rapper was due to have a show at SoFi Stadium in Los Angeles on November 4 but it has been cancelled by the venue and Page Six said insiders say he has “no others booked” and it is “unlikely venues will book him amid the scandals”.
The outlet added: “We’re told West has an album in the can, but there’s no deal to distribute it at this time.”
Kanye’s deal with the Def Jam label ended in 2021 and his recent spending has included buying a $57 million mansion in Malibu, California, which is in the process of being gutted and rebuilt.
He announced in 2016 he was $54 million in debt, which was linked to his attempts to launch a fashion line and lavish lifestyle.
On the same day that Glastonbury welcomed back Margate's adopted sons, The Libertines, Margate itself put on it's very own Leisure Festival as it...
Sheffield's very own all girl group Pretty Fierce are still on a high after the recent release of their debut single - 'Ready For Me'.
Three nights before the end of his current tour Will Varley returned to his home town of Deal to delight a sold out crowd in The Astor Theatre.
With only a few days to go before Portsmouth based songstress and producer WYSE releases her new single, 'Belladonna', we caught up with her to find...
Colorado raised, Glasgow educated and Manchester based Bay Bryan is nothing if not a multi-talented, multi-faceted artist performing as both...
Former Marigolds band member Keelan Cunningham has rediscovered his love of music with his new solo project Keelan X.
Wiltshire singer-songwriter Luke De Sciscio, formally known as Folk Boy, is set to release is latest album - 'The Banquet' via AntiFragile Music on...
Electronic music pioneer and producer Annie Elise says that the release of her first EP - 'Breathe In, Breathe Out' feels "both vulnerable and...
Though Derek and Hansel have left the world of fashion modelling behind them, a part...
This blending of the stoner bromance with the Christmas comedy works surprisingly well, layering gross-out...
Derek, Hansel and some other familiar faces are back in Zoolander 2! After offering their...
Ever since Chris, Ethan and Isaac were young, the trio of friends have always spent...
After a disastrous return to the fashion industry following his retirement, which almost ended in...
Made in America Festival is an annual music event founded by rapper and businessman Jay-Z...
DJ Peanut Butter Wolf set up independent LA label Stones Throw Records in 1996 and...
The legend of San Diego's Channel 4 news team may have long since dissolved over...
The news used to be a noble profession before the likes of Ron Burgundy with...
Ron Burgundy compares a Dodge Durango's horsepower to that of an actually horse before insulting...
Ron Burgundy, Brian Fantana, Brick Tamland and Champ Kind have now hit the eighties and...