Despite what he told us before … Kanye West is not a billionaire. At least that is what newly filed documents submitted by the “Through the Wire” emcee’s campaign stated about his financial portfolio.
As a part of his presidential bid, the rapper-turned-politician had to disclose certain particulars about his income to the Federal Election Commission.
This is required by any candidate seeking office, especially those who want to become the chief executive. One of the revelations that the disclosure forms presented was that ‘Ye was worth only “hundreds of millions of dollars.” In the past, Yeezy has made much fanfare about his various enterprises that yielded him the most coveted title in all of rap music: Billionaire!
Not his deal with Adidas, Louis Vuitton, GAP (which he claimed was worth $5 billion over ten years), G.O.O.D. Music or any of his production has panned out to make him worth 8 figures.
Business Insider reported within these filings, he valued three of his companies at $50 million per entity. Combining his two lucrative sneaker ventures with Adidas and Nike, West reports that he has earned only $30 to $75 million.
The “Jesus is King” convert listed 29 different companies under his brand, stating that he has only received $5 million in income over 2019 from eight different entities.
WAIT WHAT??? SOMETHING DOESN’T SOUND RIGHT KANYE!
He also included some of his most recent “Ls” like the $100 million debt as a result of a few of his mortgages and bad business dealings. Ye also received millions of dollars in a PPP loan for COVID-19 related losses.
— Forbes (@Forbes) July 6, 2020
WHAT IN THE NAME OF KRIS JENNER IS GOING ON?
This all undermines the Spring press blitz, jumped off by Forbes Magazine, that said that West was the highest-paid musician of 2020 and also the highest-paid celebrity overall. The otherwise bankable platform said that Kanye was a billionaire and was worth about $1.6 billion.
During this time, Ye was upset claiming they were wrong because he was worth more like $3.3 billion, making him higher than Jay-Z and Dr. Dre (who we now know is only $800 million, but who’s counting).
‘It’s not a billion,’ Forbes says that he texted them. ‘It’s $3.3 billion since no one at Forbes knows how to count.’
— Forbes (@Forbes) June 30, 2020
It seems like forever, but it was only three months ago in July when Kanye announced his official candidacy. The Business Insider reports that his campaign has been self-funded and that he has spent almost $7 million on trying to get elected.
The publication also revealed the following expenditures made during his campaign run: $400,000 to get people to sign their John Hancock to get on the ballot in Kentucky and $80,000 for signatures to get on the ballot in Iowa.
These two (as are all of the other 10 states where he will appear on the ballot) are swing states — leading folk to believe he wants to pull votes from Joe Biden to better the chance for Donald Trump to swipe the all-important electoral votes in those spaces.