Kanye West, the owner of 21 Grammys, announced to being $53 million in personal debt. West has been extremely successful in the past, so this statement has definitely led to a bit of confusion as to how someone so successful could be in this much financial trouble.
It’s ironic that the clothing in West’s Yeezy fashion line are so expensive, yet, the three lines of it that he has produced have caused him to be $40 million in debt. According to TMZ, West didn’t get any money from Nike when he created the first generation of shoes and that he funded the design out of his own pocket. Could he even afford to buy from his own clothing line? Over the years, West has released a total of nine albums and done ten tours. On February 14 of this year, West released his newest album, The Life of Pablo. However, this album wasn’t as successful as it could have been due to the fact that he didn’t put it on iTunes.
On top of his own music career, West has done other things in the music industry that
have contributed to his wealth. He has produced and written songs for many other artists such as Jay-Z, Alicia Keys, Drake, and the list keeps going.
All of the debt West is in is a result of him spending money on himself. One out of numerous examples of this is the 2,000 square foot apartment that he owns in NYC that is worth $4.5 million.
Like every other person, it’s his responsibility to pull himself out of debt. This shouldn’t be that hard for him considering the amounts of money he makes. According to Forbes, he made $22 million in 2015 and $30 million in 2014.
Maybe instead of buying a $3,500 dollar fur coat for his two-year old daughter, West should focus his spending on ways to get out of this financial mess he has gotten himself into.
Paige Martin, staff reporter