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Kanye West could face ‘financial catastrophe’ 
Words: Oli Coleman and Page Six Producer: Simone Kealy
As more and more corporations sever ties with Kanye West, the billionaire could be just months away from financial catastrophe, Page Six is told.
Sources familiar with his finances say that West, 45, has five sources of income.
Four of them have been either completely shut down or badly compromised by his anti-Semitic outburst and support for white supremacists.
We’re told that in recent years, West has made money from his massive Adidas deal, his Gap deal, his music catalogue, selling new music and concerts.
Adidas — which is the real engine for his enormous wealth — already said earlier this week that, after it ended its massive Yeezy sneaker deal with him, it would immediately halt payments.
The source says that Gap, which ended its two-year-old deal with him in September, owes him some money for the YEEZYxGAP products it sold.
As far as concerts go the rapper was due to have a show at SoFi Stadium in Los Angeles on November 4. It was cancelled by the venue and he has no others booked, according to insiders, who add that it’s unlikely venues will book him amid the scandals.
As for new music, we’re told West has an album in the can, but there’s no deal to distribute it. An insider says that the record will still probably provide something of a lifeline, but that he’s unlikely to net anything like as much as he has for previous albums.
That leaves royalties, which net him around $7.8 million a year, according to Billboard. “That’s about enough to pay his gas bill for his jet,” laughed an insider.
That leaves royalties, which net him around $7.8 million a year, according to Billboard. “That’s about enough to pay his gas bill for his jet,” laughed an insider.
What it boils down to, says an insider, is that West’s opulent lifestyle is based on the Adidas deal and the rest was gravy. But with the sneaker brand heading for the hills, he’s out about three quarters of his net worth, according to Forbes.
So sources estimate that even though he has more than $150 million in the bank, he probably has enough in the bank to last a matter of “months.”
So sources estimate that even though he has more than $150 million in the bank, he probably has enough in the bank to last a matter of “months.”
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