As Kanye West’s spending habits continue to worsen, his $53 million debt will evidently see a massive rise now that reports have come forward, revealing just how much the mogul has spent in the last month.
West’s infamous rant last week, in which he claimed to have built up a debt of $53 million, came just days after the rapper reportedly spent $2 million for an extravagant Yeezy 3 fashion show at Madison Square Garden.
According to Radar Online, Kanye made paid the huge sum without any hesitation, despite having been offered smaller venues by Adidas, who sponsored some of the collections, including the ever-so-popular Yeezy sneakers.
— Complex Style (@ComplexStyle) February 13, 2016
Having paid the models, the stage designers, production crew, and thousands of people just to show up, the money added up to a staggering $2 million — all while Kanye rants on Twitter, demanding the help of billionaires to help him fund his “creative ideas.”
“Kanye wanted it to be over-the-top, and he got what he wanted. The rental fee was astronomical and Kanye had to have elaborate cat walks made too. The cost exploded because of all of the overtime that had to be done to prepare for the show. Kanye constantly changed his mind about how the stage would be set up right up until the last moment.”
As the source mentions, Kanye West is a perfectionist, which meant that the stage had to be changed on multiple occasions, bringing the total cost even higher than initially expected.
And while the “Real Friends” hitmaker may have considered the fashion show to be a masterpiece, with the likes of Lil Kim and Anna Wintour in attendance, the event has deeply affected Kanye in the financial department.
His spending habits have definitely worsened, sources allege, as West is expected to spend millions of dollars when he embarks on a world tour in support of his latest album, The Life of Pablo.
The record is exclusively sold via Tidal, meaning that sales will be lower than what they would’ve been had the album been released to all music streaming sites and retailers. Evidently, this has been another bad businesses decision for Kanye, when considering the supposed fact that he is in such desperate need of money.
— Sugarscape (@sugarscape) February 13, 2016
Kanye West’s financial problems come amid reports claiming that Kim Kardashian is said to be over the marriage, suggesting that the relationship is crumbling and bound to fall apart sooner than later.
As previously reported, Kim is struggling to deal with Kanye’s endless rants, aware that they are only going to worsen with every new business move her husband decides to invest money in. No billionaire — as of yet — has made any move to indicate that they were willing to invest in Kanye’s projects, such as his clothing line, his music, merchandise and tours.
And with that being said, Kim is allegedly unhappy with the fact that she has to put up with the rants of Kanye West on a daily basis. To the public, the rapper’s wild antics appear to be funny and entertaining, but to the mother-of-two, the behaviour is anything but normal and tends to get to her — especially when trying to raise two children.
Kanye, who is alleged to be quite controlling when it comes to things he so desperately wants to own, is bound to face another meltdown when he starts planning the world tour unless a sponsor is willing to foot the bills for stage designs and production costs.
While his sneakers are selling extremely well, through the acknowledgement of his spending habits, Kanye West could be in deep financial problems if he doesn’t make smarter business decisions.
[Photo by Michael Loccisano/Getty Images]