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Is Kanye West Teetering on Brink of Bankruptcy? Owes $53 Million, He Says

Kim Kardashian has been tearing through Kanye West's money. Is the rapper on the brink of bankruptcy?  (Photo: Getty)

Kim Kardashian has been tearing through Kanye West’s money. Is the rapper on the brink of bankruptcy? (Photo: Getty)

Kanye West, the epitome of profligate bling spending rappers, may be teetering on the brink of bankruptcy after shocking fans over the weekend. He tweeted he was $53 million in debt and praying for deliverance. He wouldn’t be the first high-flying rapper to crash.

“I write this to you my brothers while still 53 million dollars in personal debt… Please pray we overcome…” he wrote.

Related: Kanye West Proves He’s an Ass, Again: Pronounces Bill Cosby Innocent!

He followed up with a Tweet asking Facebook co-founder Mark Zuckerberg to invest $1 billion in “his ideas.”

West is married to Kim Kardashian, who flaunts her money–and his–like there’s no tomorrow. To say she’s high maintenance would be an understatement.

Related: Taylor Swift, Kanye West Clash, Again, Amid Rapper’s Misogyny Backlash

The operative phrase, however, is “personal debt.” That suggests he, alone, is on the hook, not Kardashian.

Of course, debt is relative. He may owe $53 million, but some might argue he can afford it. His net worth has been variously estimated to be between $85 million and $140 million, depending on who’s doing the guesstimating.

Related: Kanye West Suffers Double Insult at Glastonbury Music Festival (video)

But net worth is meaningless in this context. More important in the bankruptcy equation is Kanye’s cash flow and whether he can carry the debt service, plus still meet other obligations.

More often than not, a cash-crunch, not net worth is the ultimate trigger for a bankruptcy. Even if Kanye’s net worth trends to the high-end, his money may be tied up in illiquid assets like real estate, jewelry, luxury cars and other “bling.”

Related: Kim Kardashian Gives Birth; Raises Questions Anew About Designer Baby

If he were forced to sell under duress, he likely would get pennies on the dollar for even the most expensive items. Some of his personal possessions might be exempt from a bankruptcy, but most of his valuables would be up for grabs.

TheImproper first reported signs of a possible cash crunch in June 2014, when West and Kardashian threw in the towel on their lavish Bel Air home. The house reportedly had been bleeding money like ruptured jugular.


They paid a reported $11 million for the Bel Air mansion in June 2013 and began extensively renovating the property. Among some of the changes, Kayne wanted to add a new gym, cinema, bowling alley and basketball court.

Related: Kim Kardashian Backlash: Has She Finally Hit Media Saturation Point?

Other tabloid reports claim the property became a source of tension between the two after Kayne demanded repeated changes in the design, prolonging the renovation and sending costs skyrocketing.

The couple put the house up for sale a year after they bought it. The cover story: Kim decided she wanted to live closer to her mother in Calabasas about an hour away.

Since then, the tabloids have been filed with reports about their conspicuous consumption, mostly involving Kanye buying expensive gifts for Kim.

Related: Kim Kardashian Had Extensive Surgery; Kylie Had Work Too, Surgeon Says

Among the reports Kanye bought Kim 150 Christmas presents. He even sent his assistant to Italy so he could shop via Skype. Kim opened up the presents via a livestream, so her fans could revel in her haul, including high-end designer clothes.

Kanye also reportedly spent $72,000 on expensive Christmas presents for North, including a $62,000 diamond-encrusted tiara and a $10,000 mini SUV.

For mother’s day, Kanye’s reportedly sent Kim thousands of roses. He also paid for a birthday trip to Hawaii, Hermes purses and a $73,000 Cartier Bracelet for Valentine’s Day.

When he proposed back in 2013, he rented entire AT&T Park stadium and hired a 50-piece orchestra to perform. He gave Kim a 15-carat Lorraine Schwartz diamond engagement ring valued at $8 million. The total price tag for the event was estimated to be north of $3.3 million.


Their wedding was reportedly even more costly. Some estimates put it at a whopping $12 million, inlcuding hotels, private jets and a seven-foot-tall vanilla and berry cake. Kim’s dress reportedly cost $500,000, according to London’s Daily Mail.

Other estimates, however, put the cost of the wedding at around $2.8 million.

If Kanye is facing a money crunch, it apparently hasn’t curbed Kim’s appetite for expensive presents. She seems to have no problem tearing through his money.

Tabloids reported that she was pressuring Kanye to buy her a $1 million necklace as a “push present” to celebrate the impending birth of second child Saint West.

West has diversified his sources of income outside of music. He’s invested in a chain of Fatburger restaurants in the Chicago area, a line of athletic shoes for Nike and Adidas, and another shoe line with Louis Vuitton, according to some reports.

He recently introduced his own line of sneakers that retail for around $900 a pair.

Kanye also spent a fortune on his clothing line. He previewed his latest designs in lavish Madison Square Garden fashion show. He hosted dozens of celebrities for the event. He Tweeted his financial condition shortly afterward.

Whether he’s making money on the eccentric clothing is problematic.

Of course, only West–and his bankers–know the extent of his financial difficulties. If push comes to shove, he can only hope the money changers think he’s too big to fail.

Let us know your thoughts and be sure to follow IM on Twitter for the latest celebrity news.

  • Misanthrope

    I’mma let you finish, and SMOD had some great tweets, but Kanye’s thread is the greatest of all time! Of all time!

  • tahoegeminii

    hilarious-it was obvious they were living beyond their means and after the materialistic over consumptive greedy way they have lived no one is going to bail out these 2 idiots-they will do whatever one has always expected them to do crash and burn out of over confident stupidity-IF Kuntye was the business man he goes around illiterately spewing he is he would have not put himself out on a limb with ridiculous over spending-like the first house they renovated with gold toilets and then sold at a considerable loss before it was even finished then buying another $20 millionmoney pit and completely tearing that apart-so basically they can’t finish that one either and they have to live with PMK Kuntye tries to act hi $$$-obviosly his car wash rags and slipper booties aren’t selling like he says they are-and Kimmode has to sell cartoon pornn skankkk emoji’s cause she is way to old and fat to be in the sex trade anymore-Vylie has taken that gig-begging Zuckerberg on a twitter rant? yeah that will work next he will be camping on Elon Musks front gate-if Jay Z isn’t bailing him out no one else will touch this fool-bye bye Kuntye you dug your grave

  • Lloyd Bordon

    OPM!!! A big statement about his confidence

  • Sooke

    PLEASE PLEASE PLEASE tell me this is true!

    And when Mark Zuckerberg turns him down, he’ll announce that Mark Zuckerberg doesn’t care about black people.

  • Hart StPierre

    I’m guessing you’ll not find many sympathetic ears, while “normal” people struggle just to pay their necessities because they’ve been forced to take jobs that pay less than they were making before the “crash” a decade ago…you and your trash wife spend money recklessly. Yes, it’s reckless to buy your infant $72K in Christmas gifts, it’s reckless to buy your wife a $1million dollar “push gift”. It’s reckless to buy a $12mil mansion, dump millions in renovating it just to sell it for a loss so Krapdashian can move closer to mommie. If you’ve run out of money, you’ve got no one to blame but yourselves.

  • Janet Beezley

    sell the jewels

  • Extablisment Media

    Yet Kanye is tweeting about investing millions into the Extablisment website and label? C’mon, where does he get the money? Still, it is a worthwhile investment…

  • mauser 98

    Kanye should lean on his mother in law for some coin

  • Mal

    Ah, if only it were true. If so, it looks good on him.

  • Robert Martensen

    I ain’t saying she’s a gold digger….. But she ain’t messing with a broke Kayne !

  • needaname

    Unbelievable – but not surprised. Why Mark Zuckerberg ? Why not Jay Z, Dr Dre, Oprah ?

    • Mal

      How about Ms. Swift?

      • needaname

        NAUGHTY ! You are just naughty !

    • tahoegeminii

      cause they have already turned his broke dick azz down-none of them are bailing out an idiot who blew his cash on a greedy hore and has been proclaiming himself the king of the world and constantly spewing how smart and rich he is-this is completely hilarious

    • Zann77

      Excellent Q!

  • Vo

    hes using the trump 50 cent rich mans way out of debt…bankruptcy…..

  • Jamaro

    No pity here! You and Kim bring it all on yourself…..The only “praying for you” that will be done is praying that you leave for good!