Mon. Jul 22nd, 2024

Kanye May Owe ‘Millions’ Amid Lawsuits, ‘Real Estate Issues’: Source

Kanye West may have some tough times ahead regarding his finances.

Between Adidas seeking a payout from West, 47, via private arbitration after dropping their $75 million lawsuit against his Yeezy brand last year and Lauren Pisciotta, West’s former assistant, suing the rapper for sexual harassment (West has called the claims “baseless”), West could soon be shelling out “millions,” a source exclusively reveals in the new issue of Us Weekly.

In addition to his legal troubles, West isn’t bringing in as much money as he once was.

“Kanye doesn’t have any endorsement deals coming in because people don’t want to be in business with him,” says the source, noting that West’s self-financed clothing line isn’t selling like it once did.

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West lost several million-dollar brand deals in 2022 after he claimed in a heated X rant that he wanted to go “death con 3 on Jewish people.” Balenciaga, Adidas, Gap, Vogue magazine and CAA ( Creative Artists Agency) all cut ties with him in the wake of his antisemitic remarks.

“I’ve been beat to a pulp and there’s still no accountability,” West wrote via Instagram in October 2022 after the brands parted ways with him. He also apologized for his comments during an appearance on Piers Morgan Uncensored earlier that month.

“I feel like I caused hurt and confusion,” he said. “And I’m sorry for the families of the people that had nothing to do with the trauma that I had been through, and that I used my platform where you say hurt people hurt people. I was hurt.”

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West’s financial woes don’t end with his lack of brand deals. “He’s having real estate issues, too,” the source tells Us.

According to a 2023 report by the The US Sun, West has been living in a West Hollywood penthouse with partner Bianca Censori since last year, and paying $20,000 in rent per month. In addition to the pricey monthly payments, West is sitting on two properties he’s had trouble selling.

In 2022, West took his Wyoming ranch off the market after failing to sell it. He initially listed the property, which he bought for an estimated $8 million in 2019, for $11 million. West is also trying to sell a Malibu home that he paid over $53 million for in 2021, asking for a substantially reduced price of $39 million. He knocked out windows, removed doors and ripped out every fixture and furnishing shortly after he bought the home, but never completed the extensive restoration.

“What’s missing are the interiors,” realtor and Selling Sunset star Jason Oppenheim, who is listing the home, told The Hollywood Reporter of the house in January 2024. “It’s priced to reflect the need for the interior finishes to be replaced.” Oppenheim estimated that the new owner would need to spend several million dollars to redo the inside of the home.

Despite his money problems, it’s not all bad news for West these days. He and his ex-wife, Kim Kardashian, have been getting along better after previously butting heads in the wake of their 2021 split.

Kim Kardashian and Kanye West’s Ups and Downs Through the Years

“Kim and Kanye may not always see eye to eye, but they have managed an amicable relationship based solely on their kids,” a second source exclusively told Us in February of West and Kardashian, 43, who share daughters North, 11, and Chicago, 6, and sons Saint, 8, and Psalm, 5.

“Kim knows that North has a happy relationship with Bianca and that’s all that matters to her,” the source continued. “What happens in their personal life is none of her business, just like she knows that Kanye doesn’t pry into her personal life either.”

West has publicly accused Kardashian of keeping their children away from him, which she has denied, but the source added the duo have “really overcome” the “challenges” they previously faced.

“They’re able to communicate in a mature manner and Kim is happy [with] where things are at,” the insider said.

For more on West’s financial woes, watch the video above and pick up the latest issue of Us Weekly, on newsstands now.

By Michael

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