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Kanye West insists on billionaire status despite reports of hefty tax penalties and bankruptcy admission

Jan 25, 2025 08:48 PM IST

Earlier this week, an emerging report claimed that Kanye West is drowning under tax penalties attached to US properties he has abandoned since his Tokyo move.

Kanye West posted a major net worth update on his Instagram on Friday. He took to his profile, which he's prone to wiping clean, to flaunt his billionaire title to his 20.5 million followers. Adding to his currently expanding monochrome IG feed aesthetic, Ye's post read, "In 2025, Ye's net worth stands at $2.77 billion USD as confirmed by Eton Venture Services." He further claimed that the whopping valuation was "based on his music portfolio and his sole ownership of the Yeezy mark."

Kanye West affirmed that he's claimed the billionaire net worth despite emerging reports that say he drowning under mounting tax penalties.
Kanye West affirmed that he's claimed the billionaire net worth despite emerging reports that say he drowning under mounting tax penalties.

Meanwhile, West's caption merely mentioned, "LAA LA LA LA," which appears to allude to the opening lyrics of his track "Can't Tell Me Nothing," per Radar Online. The latest development completely flips over the picture from just two years ago when the controversial rapper said that he was "two months away" from possibly declaring bankruptcy.

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Kanye West's Friday Instagram post.(Instagram)
Kanye West's Friday Instagram post.(Instagram)

Axed Adidas partnership put Ye on the brink on bankruptcy

His previous alleged financial fumble came after Adidas called off their partnership with Yeezy as Kanye's contentious social media rants came to light amid reports that he similarly subjected his employees to anti-semitic remarks. Adidas cutting ties with the hip-hop artist is believed to have cost him $2 billion.

In 2022, the company released a statement condemning Kanye West's anti-semitic outbursts: "Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness."

Brand re-building and Italy move

In an attempt to build his reputation and brand up from the ground again, he claimed to have invested $7 million to produce his Vultures album and a Super Bowl ad. Back then, he admitted, "I'm just be honest with y'all. I was two months from going bankrupt, and I put everything I had into it (the album and the Super Bowl advert)." Ye also notified that he and his wife Bianca Censori moved to Italy for survival.

He clarified, "We moved to Italy. We moved to the factories, and we survived. We survived through the cancellation. We're back number one."

Kanye West's abandoned US homes and Yeezy HQ causing tax trouble

Contrary to Kanye West's new social media declaration, The Sun US reported that his debt was racking up. Property taxes are seemingly taking a toll on him since he abandoned his houses and the $6.7 million Yeezy headquarters in America. The outlet contended that he owes a minimum of $365,592 across six properties including penalties for non-payment.

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On top of that, he is believed to have been hit with $3,272 in additional penalties per month. West is reportedly also expected to pay $82,662 by April 10 on some of his Los Angeles properties. If not fulfilled, the Los Angeles Country Treasurer and Tax Collector will hit him with financial punishment.

The Vultures album-maker's real estate profile includes his $6.7 million Yeezy HQ in West Hollywood, a $1.5 million church building in Northridge, two Calabasas homes he got in his divorce from Kim Kardashian, a Westlake townhouse and his last year purchase of a $35 million Beverly Hills abode. West has since deserted these properties and their mounting tax bills reportedly remain unpaid while he's now settled in Tokyo with Bianca.

Kanye West's legal trouble rages

In addition to purported financial woes, several lawsuits are threatening the controversy-riddled rapper. The “Heartless” rapper's ex-assistant Lauren Pisciotta has accused the him of rape and sexual abuse in a lawsuit.

His failed Donda Academy situation is also coming down hard on him as former teachers Cecilia Hailey and Chekarey Byers have sued him, citing "multiple health and safety violations, as well as unlawful educational practices." The lawsuit will go on trial in April.

Other lawsuits have also accused him of harbouring a hostile workplace environment and subjecting employees to emotional distress.

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Get more updates from Bollywood, Taylor Swift, Hollywood, Music and Web Series along with Latest Entertainment News at Hindustan Times.
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