Entertainment
Kanye West claims he owes $50,000,000 in taxes after ‘losing’ billionaire status amid antisemitism controversy-Alicia Adejobi-Entertainment – Metro
The rapper’s new net worth is estimated to be $400million.
Kanye West has revealed the extent of his financial plight (Picture: YouTube/Timcast IRL)
Kanye West could face losing even more money after sharing the sum of his hefty tax bill.
The Gold Digger rapper is reported to have lost his billionaire status last month after being accused of making antisemitic comments, which prompted Adidas to cut ties and end their nine-year partnership with his Yeezy brand.
His net worth is then said to have plummeted to an estimated $400million (£334m) but Kanye’s financial troubles apparently don’t end there as he now claims to owe the Internal Revenue Service $50m (£42m) in back taxes.
Speaking on the Timcast IRL podcast, Kanye, 45, talked about being ‘debanked’ and said: ‘I’m talking about literally finding out that they were trying to put me in prison this morning. But I found out — okay, so they froze, they put a $75million (£63m) hold on four of my accounts.’
‘And then they said, you owe a lot of taxes. Took me like six hours to find out how much. A lot — was it — well, around $50million.’
Kanye added that as he’s ‘obviously not the most financially literate person on the planet’, he spoke to ‘different CFO’s’ to find out if he was at risk of tax evasion.
The rapper has faced severe backlash over his antisemitic vitriol (Picture: GC Images)
The Grammy-winning rapper claims he was told he owes $50m in taxes (Picture: Getty Images)
The Yeezy boss recalled how he essentially stopped learning once he became famous aged 24 and was surrounded by various handlers.
‘So now… I get to actually learn how to run a company. I get to learn how to, you know, to count, really. It’s like I didn’t even know where to put the money,’ he said.
Later in the chat, Kanye ended up storming out of the interview after receiving pushback about his antisemitic vitriol.
Forbes previously reported that with his Adidas deal – calculated to be worth $1.5billion (£1.25bn) – scrapped, Kanye is ‘no longer a billionaire’.
The publication claimed that without the partnership, he is worth $400m, which stems from real estate, his music and the 5% stake he still owns in Skims, the shapewear company founded by ex-wife Kim Kardashian.
In recent weeks, Kanye has announced that he’s running for US president in 2024 with alt-right political commentator Milo Yiannopoulos as his running mate.
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