Adidas, his main source of income, has already said after ending its huge Yeezy deal that it would instantly stop payments. Sources say it will be hard for him to contest that because of his threats against Jewish people and the incident during which he showed pornography to Adidas executives, meaning they can “play hardball” with him.
Gap, which ended its two-year deal with the rapper in September, owes him some money for the YEEZYxGAP products it sold between the end of the deal and Tuesday, when it announced it would pull his products from their shelves.
And while concerts should be the easiest way for a star like West to make money, a show he was due to play at SoFi stadium in Los Angeles on November 4 has already been cancelled by the venue. He has no others booked, and insiders say it’s not likely venues will book him amid the scandals.
When it comes to new music, West reportedly has an album ready to go, but currently has no deal to distribute it. His longtime deal with label Def Jam ended last year, and a new record is unlikely to make anywhere near as much money as his previous albums.
That just leaves royalties, which will make him around $7.8 million a year, according to Billboard - or in the words of an insider, “about enough to pay his gas bill for his jet”.
West reportedly also has a “high cash burn rate”.
He bought a $89 million Malibu home last year before completely gutting it and starting a total rebuild. Many of his other homes are mortgaged.
Back in 2016, West revealed that he was $84 million in personal debt, due to his countless attempts to launch a fashion line as well as his out-of-control spending.
And with the Adidas deal out of the picture, the rapper has lost about three quarters of his net worth, according to Forbes. So even with over $250 million reportedly still in the bank, it’s probably only enough to last a matter of “months”.
A source said, “It’s all about cash flow and if - or when - he can revive it.”
A representative for West did not respond to a request for comment.
