Kanye West Not in “Debt”, Reports TMZ
Kanye West took to Twitter over the weekend to make a case as to why he needs major funding to see his ideas come to fruition... and also added that he's went $53 million in debt making it happen on his own.
Well, according to TMZ, the rap star has invested his own money in a number of his own fashion and music ventures... but it's not "debt" as he's claimed.
The report says Kanye has spent $40 million alone, working on his past three Yeezy Season lines, and spent hundreds of thousands on sets for his last tour... but is still raking in money hand over fist.
According to Forbes, Ye earned $22 million in 2015 and $30 million in 2014... and will likely earn as much or more this year. So, essentially, TMZ says while Kanye has spent a lot of his own money, he's far from broke.
Kanye, himself, further clarified his comments in a new series of Twitter posts on Monday (Feb. 15), explaining that while he's "personally rich", he can't spend his own money, because the first rule to building a global business is "to use other people's money."
"Yes I am personally rich and I can buy furs and houses for my family, but I need access to more money in order to bring more beautiful ideas to the world," he tweeted. "If I spent my money on my ideas I could not afford to take care of my family. I am in a place that so many artist end up."
Ye also says that since publicly reaching out to Mark Zuckerberg, a number of billionaires have contacted him, potentially interested in funding "his ideas". "I am ultra light beaming right now. So many people have called or emailed to help today hedge fund guys billionaires etc...," he wrote.