Kanye West could face the financial crisis in a few months

Kanye West may be just months from a financial disaster, says Page Six.

As the rapper is rejected by corporations and condemned by industry data, sources say that while he has large cash inventories, he also has enormous expenses and may soon be in trouble if he can’t find a way to turn the tide.

Sources familiar with his finances say West, 45, has five sources of income – four of which have either been shut down completely or severely compromised by his anti-Semitic outbursts and support for white supremacists.

We are told that in recent years, West has made money from a massive Adidas deal, a Gap deal, a music catalog, new music sales and concerts.

Adidas – who is the true engine of his immense wealth – said earlier this week that after it finishes its massive Yeezy sneaker deal, it will immediately withhold payments.

Sources say it will be difficult to fight this decision as his threats against Jews and the incident where he played porn against Adidas bosses “mean they can play it hard,” according to insiders.

The source says Gap, who ended his two-year contract with him in September, owes him some money for the YEEZYxGAP products he sold between the end of the contract and Tuesday when he announced he was pulling his merchandise off the shelves over the controversy.

When it comes to concerts – which should be the easiest money a star like West can earn and a reliable source of quick liquid cash – the rapper was scheduled to play at the SoFi Stadium in Los Angeles on November 4. by the place and there are no others reserved, according to insiders who add that it is unlikely that places will reserve it amid scandals.

As for new music, we were told West had a canned album, but at the moment there is no deal to distribute it. His deal with longtime record label Def Jam ended in 2021. The insider says the record will likely still be something of a lifeline, but it is unlikely to get anything like the previous albums.

“He is a multiple Grammy Award winner and has such a huge following that his albums go platinum immediately,” said the source, adding that it was hard to believe that no one would be willing to accept such a deal that cannot be lost.

That leaves him in royalties which, according to Billboard, give him about $ 5 million a year. “That’s enough to pay the gas bill for his jet,” the expert laughed.

Last month, the music industry reported that West’s band had tested the waters to sell its catalog for around $ 135 million, but it didn’t get much attention.

Meanwhile, we are told that he has “a lot of cash by anyone’s standards” but also has a “high cash utilization rate”.

West bought a house in Malibu, California for $ 57 million last year and gutted it. It is being rebuilt practically from scratch. We were told that the project was under serious threat due to its financial problems. He also has many other homes, but many are said to be mortgaged.

Of course, West has had financial difficulties before. Let’s not forget that he revealed in 2016 that he has $ 54 million in personal debt, which he was supposedly due to his numerous attempts to introduce a fashion line as well as his style of free-spending.

As the insider says, it boils down to West’s rich lifestyle based on a deal with Adidas and the rest was sauce. But as the sneaker brand heads for the hills, it has lost about three-quarters of its net worth, according to Forbes – a huge hole to plug.

So, sources estimate that although he has over $ 100 million in the bank, he probably has enough to last for “months.”

“It’s about the cash flow and cutting when it can revive it,” said the source.

West’s representative could not be reached.