Kanye West’s Net Worth Reveals Why He Owes Kim $200K a Month After Their Divorce
Kanye West, who has won numerous music awards, is having his net worth take a hit due to his inflammatory behavior on social media. On October 10th, he posted an ill-advised tweet that targeted Jewish individuals and accused them of blacklisting those who disagree with their agenda. This caused Twitter to promptly block him for violating their hate speech policies, leading many of his business partners and sponsors to sever ties and drop him from the billionaire’s list.
The DONDA rapper had long contested against publicly issued net worth reports by industry-savvy names such as Forbes, asserting he was worth more than their figures portrayed. In 2020, major modifications to Kanye West’s net worth reached its heights when the musician announced his Yeezy x Gap collaboration; reaching that 10-figure success mark. It seemed a positive push for his fashion career until October 2022 at Paris Fashion Week that presented his brand Yeezy’s t-shirt with the slogan “White Lives Matter” on the back.
The DONDA artist received a lot of criticism about how dangerous the slogan was from various people in the industry. In particular, Gigi Hadid and her friend Gabriella Karefa-Johnson have both attacked Ye via social media and the two have been continuously arguing over social media. But Gigi called Ye out for being a “bully” and defended Gabriella.
How much does Kanye West make?
In 2019, according to Forbes, Kanye West was the highest-paid rapper in hip-hop with an estimated $150 million income after fees for agents, managers and lawyers. Jay-Z, whose income was reported as second-highest in the same Forbes article at around $81 million that year, has likely seen his industry earnings take a hit recently due to his publicized antisemitic comments. On the other hand, music streaming service Spotify has elected not to remove him from its roster of artists as his hate speech hasn’t been featured on a recording uploaded to the platform. Universal Music Group has however publicly denounced such antisemitism in a statement: “There is no place for antisemitism in our society. We are deeply committed to combating all forms of prejudice.”
Kanye West made how much money from Yeezy?
It may be interesting to note that much of Kanye West’s net worth stemmed from his Yeezy line, as Forbes report revealed. With an estimated income of $1.3 billion in 2019, the brand has become a serious contender to Nike’s Air Jordan in the sneaker world. According to the publication, Kanye owns 100 percent of his brand and was expected to receive royalties from adidas (involved with production, marketing and distribution) totaling over $140 million for that year. The partnership between adidas and Kanye unfortunately came to an abrupt end on October 25th, 2022 with the company citing “unacceptable hateful actions”. This led to an estimate loss of €250 million ($247 million) in company revenue that same year.
In 2022, how much will Kanye West’s net worth be?
Forbes estimated Kanye West’s net worth to be $1.8 billion halfway through 2022; however, his outbursts of antisemitic rants caused a substantial decline in that figure to around $400 million. Adoedas and multiple partners such as Gap, Balenciaga, CAA, JPMorgan Chase, Peloton and Foot Locker have all disassociated themselves with the rapper and removed their products from the line. Despite fans setting up GoFundMe campaigns to restore his billionaire status, these were later deactivated. Page Six spoke with insiders regarding the rapper’s financial situation who suggested several of his sources of income had either been deducted or severely knocked back, indicating he might find himself in financial difficulty soon.
The adidas deal alone was said to have been worth $1.5 billion, as reported by Forbes. In 2021, there were multiple reports claiming Kanye West had become the richest Black person in America, with a net worth of $6.6 billion; however, Forbes contested this figure following the launch of his Yeezy Gap partnership on October 25th 2022, stating that it was an overestimation. Following this news release, Gap issued a statement denouncing any form of antisemitism, racism or hate and confirming that those values are not tolerated in accordance with their own principles. Ultimately, it means that Mr West’s ex-wife Kim Kardashian has overtaken him as the more valuable name; Celebrity Net Worth estimates her wealth to be $1.4 billion in 2022.
In an episode of “Timeless IRL” that aired in November 2022, Kanye shared an experience he had that morning with the IRS. He informed listeners that his bank accounts had been frozen due to a $75 million hold they placed on them, and discovered he owed approximately $50 million in taxes. Although he admitted to not being adept in the financial sector, Kanye spoke of how this event was enabling him to become more informed on the matter. He elaborated on learning to manage a business and counting money, jokingly stating he didn’t even know where to put it.
Is there a prenuptial agreement between Kanye West and Kim Kardashian?
Given the amount of money, inquiry has risen as to whether Kanye and Kim had a prenup. Reports have surfaced that they did sign an agreement two months before their wedding in May 2014. According to the prenup, Kim would be given $1 million a year (with a maximum of $10 million) if a divorce were to occur. Additionally, she is entitled to stay on Kanye’s life insurance policy worth $20 million, regardless of divorce. As far as custody goes, a clause was not included when they first married prior to having any other children besides North.
The process for Kim and Kanye’s prenup was reportedly straightforward and without drama, unlike when Kim was dealing with her ex-husband Kris Humphries, who had to grapple with a “long and tedious” period, Radar Online reported. That difference demonstrates just how much Kanye loves Kim, as he was apparently willing to give her the freedom of his finances without requiring a prenup at all.
How much did Kanye West and Kim Kardashian settle their divorce?
In November 2022, almost two years after filing for divorce, Kanye and Kim finalized their divorce. Kanye and Kim, according to court documents obtained by TMZ, agreed to share custody and equal access to their four children: North, Chicago, Saint, and Psalm. Although they agreed to “equal access,” TMZ reported that Kim has 80 percent custody of her and Kanye’s kids, while Kanye gets 20 percent.
Under the settlement, Kanye is obligated to give Kim $200,000 in monthly child support, to be sent on the first of each month. He must also contribute 50 percent of the educational, security and medical expenses for their kids. In the event of a disagreement involving their children, both parties agreed to submit to mediation. If either fails to participate in mediation, the other will ultimately have the deciding vote. Additionally, spousal support was waived per the agreement.
According to court documents obtained by E! News, Kim was awarded various properties by the couple’s agreement – including their home in Hidden Hills and homes in Riverside, Malibu and Idaho. Kanye, on the other hand, received homes in Calabasas, Malibu, Hidden Hills and Thousand Oaks; two ranches and one home in Wyoming; a house in Belgium and his childhood abode located in Chicago. Additionally, he was also granted 300 acres of land in Calabasas.
Kanye West’s history with money is checkered. In 2016, he tweeted about owing $53 million to his own pocket because of failed attempts at establishing two fashion lines – Pastelle in 2009 and Kanye West in 2011. Additionally, his collaborative venture with the French line A.P.C., ended up costing him $30 million in debt. Sadly, both of these labels never made it to stores, sending Kanye into a financial crisis.
Despite that, Kanye West has made his money back and is out of debt, as evidenced by his net worth. Kanye released his first adidas Yeezy collaboration in 2013: the Yeezy Boost 750. The design was followed by several other shoes, including the Yeezy 950, the Yeezy 350 Cleat, the Yeezy Powerphase Calabasas, and the Yeezy Boost 700 in 2015. The first Yeezy clothing line Kanye created was Yeezy Season 1.
Kanye West’s finances have seen ups and downs, as evidenced by a 2019 interview on The Late Late Show with James Corden. At the time, the Grammy Award-winning artist disclosed that he had been issued a tax refund of $68 million. He went on to state his opinion that people should be able to speak about their financial situations, especially if they have previously been subject to challenging ones due to the system. Furthermore, West highlighted his shift in focus onto his religious beliefs following this financial windfall.
He also claimed to be wealthier than President Donald Trump in an interview with Nick Cannon’s podcast, “Cannon Class,” in August 2020. He also responded to theories that he’s in cahoots with the GOP because he’s being paid. He said, “People keep on saying I think you and Republicans are in cahoots.” “Bro, nobody can pay me,” West replied. “I got more money than Trump.”
Despite their wealth, Kim Kardashian revealed in an interview with The Sunday Project in 2019 that she and her husband Kanye are bringing up their four children—North, Saint, Chicago and Psalm—to be cognizant of their financial privilege. During the interview Kim said, “No matter what you’re given and no matter what you have, you must treat people with respect. I strive to do my best in this regard; I truly believe my children are well balanced and understand they are lucky, but also know how to show compassion. It is my top priority that they become good people.”