Kanye West's financial empire revealed in new federal documents

Kanye West has revealed details of his wealth in new documents. Photo / AP

Kanye West has admitted to being worth "hundreds of millions of dollars".

The 43-year-old rapper and footwear designer has reportedly opened up on his finances in financial disclosure forms as part of his 2020 US presidential bid.

Although last month Kanye claimed he was worth $7.5 billion after signing his 10-year deal with Gap, Business Insider has detailed his actual worth.

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Three of his companies are valued at $75 million each, while his partnerships with Nike and Adidas are together worth between $45 million and $113 million.

However, it's said the star also revealed he has up to $151 million debt, which mainly comes from mortgages.

Kanye - who revealed his plans to run for president back in July - has had to set out his finances in forms filed with the Federal Election Commission, which is required by those running for public office.

By the end of the summer, the documents state he loaned his campaign $10.1 million.

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A post shared by Kim Kardashian West (@kimkardashian) on Oct 3, 2020 at 6:21am PDT

Thus far, though, he has failed to make the ballot in most states, as well as the District of Columbia.

He is currently on the ballot for 12 states, including Kentucky - which allegedly cost $600,000 to get the required signatures - and Iowa, which is said to have cost $121,000.

Meanwhile, it was previously claimed his wife Kim Kardashian West is "incredibly patient" with her husband's bid to become President of the United States.

A source said: "Kim continues to be incredibly patient and understanding about Kanye's desire to run for president. She just wants to get through the next few months peacefully. She is kind of standing back while Kanye does whatever makes him happy. Kim and Kanye are doing well. Kanye is in a better mental state. Their marriage still needs work, but Kim is getting across to him. He is not shutting her out and wants to be with his family."