Kanye West At Risk Of Going Broke After Shutting Down His Yeezy Business

The “College Dropout” rapper Kanye West who is no stranger to making headlines might be at risk of going broke with the way he’s been spending his money on designer clothes and constant visits to luxury hotels like Soho House and the Chateau Marmont.

It’s not news how Kanye fell from grace and not completely to grass following his viral and incessant antisemitic rhetoric in 2022.

The “Donda” artist who according to Forbes was worth about $2 Billion in net worth, dropped drastically to $400 Million within months of his antisemitic rants.

He lost partnerships and deals, and brands dropped him like a hot potato and stopped selling his fashion outfits. Despite his sudden downfall, Kanye refused to stay down and would later go on to host his “Yeezy” fashion show.

He didn’t stop there, he went on to release a hit album “Vultures” while still making headlines with his equally controversial wife Bianca Censori.

But then, although his latest album did well, a recent report that Kanye will be quitting music for good made headlines. The claim was made by rapper Rich The Kid who shared a text that claimed to be sent by Kanye and it read, “I am retiring from professional music. Not sure what else to do.”

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Prior to the alleged music retirement news, the “Life of Pablo” artist had been having issues with his fashion line to the extent that he had to slash the prices of all his merchandise to $20 each. As of July 3, 2024, Yeezy website released an announcement telling its customers that the website is “no longer accepting online purchases.”

Amid all that, the 47-year-old has been having the time of his life traveling to exotic places, wining and dining at high-end restaurants. Recently, he was reported to have arrived in Moscow, Russia in style and has been touring the country with Russian designer Gosha Rubchinsky.

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An insider told “The U.S. Sun” that with the rate at which Kanye squanders his money, he may drop way down to nothing. “He may have made money in the past and from his recent album, but the way he’s going he’s going to have serious financial issues in the future if he keeps going the way he is,” said the source while adding, “He’ll likely never going to be broke, but he’s going to be brought back down to Earth if he doesn’t get his life together.”

The source continued, “Kanye is in free fall right now and he doesn’t seem to care that everything is falling apart, He’s fired lawyers, refuses to get on top of all of the lawsuits, and he’s gone through multiple publicists in recent months.

His Yeezy business has not been doing well after his relaunch and now the site is fully down as more people desert him. There were complaints about delivery time and people not getting their shirts even before he slashed all of the prices.”

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