So what really happened with Kanye West’s 50+ million in personal debt?
Inside sources now say that Kanye was not being truthful back in early 2016 when he tweeted he was in debt to the tune (no pun intended) of 53 million dollars, but the speculation regarding why is varied depending on what website you’re on and/or network you’re following.
What was his motive? What was he thinking?
You can say that about Kanye’s entire career. The list of embarrassing moments grows every year.
To understand Kanye’s personality maybe start here, but today we’re only discussing money.
The Story Had Legs
It makes sense that us mere mortals would be curious as to why he amassed such a large debt, so it follows that the media would be shouting the story from their roof tops – or from Kanye’s perspective… from under their rocks.
But as media outlets seemed to be relishing in the news I couldn’t help think it was NOT a story.
His $53,000,000 (approximately) in personal debt is kind of like a middle class earner being $50000 in cash debt but owning their house worth $500,000 outright.
In such a position we wouldn’t really be all that worried about it would we. We know we could pay of the debt by selling of our house and downsizing, or we could pay it off over time.
Kanye makes over 1 million per show and he has properties and investments worth FAR more than a paltry fifty million.
This is why I was surprised when he used Twitter to ask Mark Zuckerberg of Facebook and Larry Page of Google to bail him out. I don’t think Kanye would be at the top of their list for a charitable donation.
And now over a year later it turns out my first assumption was right. The speculation is that his wife Kim cleared off his debt.
The reality is Kim and Kanye are marriage. They share their good and bad, their ups and downs, AND their financial liabilities. Less than a month later after Kanye made public his debt issue Kim Tweeted she was cashing a check for over 80 million from a video game deal. Sources say she transferred enough cash into Kanye’s account to zero it (and more).
Even if Mrs. Kardashian hadn’t paid off the debt Kanye would have easily paid the negative balance by selling some property and assets.
The only story I was interested in was his spending habits.
That’s the fun stuff!
Kanye’s “Alleged” Spending
Keep in mind that ALL of these numbers are speculation based the opinions and guess work from people outside the West/Kardashian family.
We’ll never really know the full extend of Kanye’s spending and that’s the way it should be – it’s none of our business. But since the genie is out of the bottle we’ll go ahead and list the rumored spending he did to accumulate his very temporary negative balance.
1.) The BET Awards Jewelry Story
West wore two Egyptian themed pieces that were gaudy as hell, but he accomplished his goal of making a statement.
The brass-knuckle style gold fist ring in the shape of 2 pyramids and a massive necklace with a motorcycle chain shape hanging the main feature Horus (the Egyptian God of Sky, Protection and War)
Only problem with this story was that there is no documented proof Kanye purchased the jewelry. He could have just as easily been paid to wear it.
2). Kim’s 35th Birthday
The Cinépolis has reclining luxury seats and serves gourmet food – not to mention their customer service is known to be stellar.
It’s know to be one of the top luxury cinemas in the world but the has never been documented proof showing what Kanye paid for it.
There was speculation by most media outlets that he paid over $5000 for the works. Well that’s chump change for the likes of Kanye and Kim, and who knows….the owners of Cinépolis may have let them use it for free just for the publicity.
3.) The Yeezy 3 Fashion Show
The media claimed he had over 1200 models hired. Naomi Campbell and Alek Wek were amongst them along with Veronica Web.
That much is true.
Experts in the fashion industry agree that this runway event should cost in the neighborhood of half a million dollars.
By doing some math the major media outlets reported Kanye spent close to two million of his own hard earned cash for the event. Pure speculation of course, but from what I’ve read they may be close on this one.
4.) Diamonds On The -Encrusted Teeth
But the cost of the actual diamonds is unknown.
When pricing diamonds you have to consider the weight and the number of carats, so there is now way of knowing what his final cost was.
The inset picture is courtesy of the Ellen show.
5.) The Hidden Hills Mansion
Kim and Kanye bought the estate from Lisa Marie Presley in August 2014 and did 2-3 rounds of renovations and remodeling.
So the total cost is something only their family would know, and I highly doubt it was solely Kanye’s expense.
It’s a family expense, and I’ve heard his wife has a little bit of cabbage in her own bank account…..just a bit.
6.) Kim’s Engagement Ring
The 15-carat diamond ring designed by Lorraine Schwartz (celebrity jewelry designer) is a D Flawless piece which experts say should be worth somewhere between 2.5 and 3 million dollars.
Now this purchase is sort of a lock down because Kanye would have to buy it without any help from his bride-to-be and the cost can be easily assessed by an expert in the field.
But hey…he was love YOU ALL.
7.) Kim’s Flowers
They go on to say he spends around $1000 every time he buys her flowers.
That same year he bought her a Mother’s day wall arrangement complimented by peonies, hydrangeas, and white roses.
Experts have said it would have cost upwards of $130,000 (now that’s true love right…..right….right?)
Extravagant for something that’s going to literally wither and die in a matter of days.
8.) Kanye’s Music Videos
He spares no expense and loves the creative process, pushing him to spend freely in an attempt to get what he wants.
Because of this he has created two of the most costly hip-hop videos every made – his “Stronger” video and “Touch The Sky” cost over one million a piece.
So if HHW has some solid sources that’s a chunk, but he would be writing that off his business taxes.
9.) Glam Squad
Radar Online reported Kanye is adamant about Kim’s appearance (and me thinks she is too) so he has paid enormous sums for her hairdresser, makeup artist, and stylist to be flown all of the world on a private jet.
The jet was commissioned around the clock so RO estimated the cost to be $250K after wages and lease costs.
Her “glam squad” sure fell into a cool gig – as long as their young energetic because it would be a hectic schedule away from family and their home sweet homes.
10.) The Cars
This is an easy source because there’s just over 70 of them in the world so there are records on the purchase prices.
He’s driven a couple Mercedes vehicles as well – the G500 and the Maybach.
He’s also got a Lamborghini Gallardo squirreled away somewhere in his stable of expensive cars.
11.) Private Jets
TMZ reported Kanye loves the lifestyle of the rich and famous, and this extends to his air travel.
For their overseas trips (i.e. – Los Angeles to Paris) for example, the cost is just north of $30K.
This another example of a proven cost because you can contact any leasing company and find out this is the going rate.
And again, keep in mind this is a solid business write-off on his taxes.
12.) Apartment in Soho District NYC
So the general media wanted to tap Kanye with his 5 million dollar apartment in New York City (specifically the SoHo district in Manhattan) which he’s had since his mid 20s.
Quite an amazing accomplishment many forget about Kanye – regardless of his periodic antics, at the core he’s an extremely talented composer.
Here he’s superimposed in front of the building and on the inside his apartment is 2000 square feet.
Described by Vogue as “a restrained, modern architectural study featuring a wash of neutral hues, French limestone, and pearwood, as well as two large stone structures that serve as the main parts of the kitchen and bathroom…”
Times is tough.
13.) North West’s Xmas Gifts
In 2014 during the Christmas season Kanye spent close to $72,000 on his daughter North but that was a shared family expense like so many of the items listed here and not necessarily HIS expense alone.
North West was given a $60000+ diamond tiara and a $12000 toy replica of his SUV.
Saint North was also lavished with gifts as per the main gossip columns in Los Angeles.
We have no real of knowing the truth behind these reported purchases because there is always a lot of smoke an mirrors when it comes to information leaking from the Kanye and Kim camp.
14). Jay-Z’s Golden Skull
This Lions & Sons’ Divora Skull comes in gold plating and red topaz stones.
The reason he chose to fly out to Jay-Z with the gift is because he was afraid to trust a courier company.
You will notice on the top of skull it has red tinge to it. That is the 1700 star cut red topaz gemstones creating the affect.
Jay-Z was reportedly very happy to receive the massive gesture of friendship.
Makes you want to perhaps by Kanye’s buddy instead of his enemy.
15.) Mansion In Bel-Air
Right after they bought it they started renovations so they lived with Kim’s Mom (a well known fact :roll:).
Their massive home has a salon, a gym, theater, basketball court, indoor pool, outdoor pool, and a bowling alley.
Somehow I can’t imagine the Kardashian family getting together for an evening on the lanes.
It’s something the Dude would do – not the same crowd.
16.) Custom Birkin Bags
Kanye reportedly enjoys buying them as gifts for Kim but the actual cost of each bag is unknown.
Elle magazine estimated Kanye spent close to $250K on Birkin bags due to fact he had one custom painted by George Condo.
Not sure how much George liked it when his rival painter was North West with her famous hand painting job seen her in the inset.
17. Over $180K A Year In Haircuts
“Reportedly” Kanye got a $500 haircut everyday when he was on tour with Rihanna, so the piss-ant media did the simple math and came up with $182,500.
The problem with their story is their source wasn’t really in Kanye’s corner (Rihanna’s father) and it was just for the tour which may have been mandatory to keep his hair perfectly manicured for the stage lights.
More than likely when the tour was over he reverted back to any typical guy and had a cut once and awhile.
But what do I know.
18.) Out Of Court Settlement
After being verbally assaulted Kim was upset so she called her husband for support.
Kanye showed up and reportedly punched him out.
The teenage “victim” of the assault decided on a out of court settlement reported at $250K.
Same issue here – nobody outside of the West family knows what the settlement was IF there even was a settlement. I would hope the young racist didn’t get rewarded for acting like an N-Word hurling punk.
19.) Christmas 2015
Of course there is NO way of knowing if there is any truth to this story, but the celebrity media ran with it anyway.
They reported Kanye had an employee fly to Italy and go shopping with a device on hand so Kanye could shop for Kim via FaceTime. Among those gifts was a very pricey Louis Vuitton fur coat.
20.) Armored SUVs
I know what you’re thinking (I think) – how could an armored car stop armor piercing bullets…..this Dartz Motors creating can.
They go for 1 million a pop and they’re ugly as hell. Very much a military style vehicle and a real pig on gas.
So this is just twenty of the expenses Kanye supposedly took on, but when you look at in reality some of them would have been tax write-offs, and/or family costs that Kim would have been in on.
Some of the above is easy to guesstimate the cost of but much of it pure speculation that the celebrity media had no problem exaggerating and exploiting.
And you can see why the couple wouldn’t bother correcting the media on these stories because it perpetuates the story of their lavish lifestyle and wealth.
Never know….maybe it’s ALL true.
I doubt it.