The rapper tweeted last week that he was in $53m debt but according to TMZ, the amount is accurate but itâ€™s not a debt. TMZ reports belowâ€¦
The answer to that $53 million question â€“ how the hell is Kanye West that deep in debt â€” is that he isnâ€™t, but he does spend a ton â€¦ on himself. Sources connected to Kanye tell TMZ the number â€“ $53 mil â€“ reflects how much dough â€˜Ye has invested in his own companies related to fashion and music. For instance, weâ€™re told heâ€™s sunk $40 million alone into 3 seasons worth of Yeezy fashion!
Yeezy shoes are all the rage now, but weâ€™re told Kanye didnâ€™t get a dime from Nike when he created the first gen of the shoe. He funded the design out of his own pocket.
Additionally, weâ€™re told he spent several hundred thousands to build sets for his last tour, and to make his 2012 short film, â€œCruel Summer.â€
The good news for Kanye is heâ€™ll make back his investment because he earns like crazy â€” $22 million in 2015 and $30 million in 2014, according to Forbes.
Bottom line, no oneâ€™s turning off his lights.