Why Kanye West probably isn't $53 million in 'personal debt' - and what he has to say about it
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The rapper continued speaking about his financial crisis on Twitter Tuesday. In the tweets, he may have given a couple reasons why he decided to disclose his financial situation to the world in the first place.
According to his tweets, people who knew about his financial problems would use that knowledge as leverage during negotiations.
But now that it's out in the open, he feels they can't use it against him anymore.
For the past 3 years people who knew about the debt tried to use it against me in negotiations …
- KANYE WEST (@kanyewest) February 16, 2016
You can't control me or use the debt against me no more …
- KANYE WEST (@kanyewest) February 16, 2016
Money doesn't make me who I am…
- KANYE WEST (@kanyewest) February 16, 2016
I wanted the world to know my struggle…
- KANYE WEST (@kanyewest) February 16, 2016
The site's sources also say he has spent about $40 million over the three seasons of his fashion line. And although his Yeezy sneakers have sold well, West reportedly didn't get a paycheck for the first year of the line and funded the design himself. (He's also claimed Nike didn't pay him any royalties.) He parted with Nike (and continues feuding with the company on his new song "Facts") and announced he'd signed a deal with Adidas in 2013. That seems to be going better for him.
Thank you Adidas for supporting my creative vision …
- KANYE WEST (@kanyewest) February 16, 2016
Adidas has really made all the difference …
- KANYE WEST (@kanyewest) February 16, 2016
They provided resources for me to create… they supported me … I thank you so so much …
- KANYE WEST (@kanyewest) February 16, 2016
You let me dream without limits….
- KANYE WEST (@kanyewest) February 16, 2016
Since the money went into his business ventures, if those companies do default, West likely wouldn't be held personally liable.
It should also be noted that West has plenty of earning power: His "Yeezus" tour was the second-highest-grossing of 2013, at $25 million.
Over the weekend, West made a very public request to Facebook founder Mark Zuckerberg for $1 billion to fund the rapper's ideas. Zuckerberg has yet to respond to West.
BI reached out to West's representatives for comment.
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