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    Saturday, 5 August 2017

    What is Kanye West’s net worth, what’s the feud with Jay Z about and when did he marry Kim Kardashian?

    Money has always been an issue for Kanye thanks to his extravagant business ideas but why's he suing a bank? Find out here...

    THE finances of rap king Kanye West were put under the spotlight ever since his wife Kim Kardashian was held at gunpoint last year in Paris.
    Now he’s failed to secure an insurance payout from a bank after cancelling his tour dates. So what we know about the hitmaker’s financial situation?
    In 2014, Kanye placed as the 20th wealthiest celebrity on the Forbes list, so where has all his fortune gone?
    Last February, Kanye shocked fans by making the announcement that he was in a whole load of debt.

    He confessed: “I write this to you my brothers while still 53 million dollars in personal debt… Please pray we overcome… This is my true heart…
    “My dreams brought me into debt and I’m close to seeing the light of day.”
    However, declaring bankruptcy in the US doesn’t necessarily mean you are completely broke.
    Sometimes, it is simply used to manage debt or as an accounting procedure and shouldn’t be interpreted as meaning the debtor has no money.
    Many people, including the new US President Donald Trump, have filed for bankruptcy multiple times.
    Also Kanye has been charging his fans crazy prices – including $325 for a jacket – to bag the merch linked to his latest album, The Life Of Pablo.

    How much property does Kanye own?

    And although Kanye claims he is lacking physical cash, he definitely makes up for it in real estate.
    Some accused the Grammy Award-winning artist of setting-up the heist to claim money on his insurance or boost ratings for the KUWTK reality show.
    This combined with the rapper’s tour cancellationcontroversial rant, alleged sex tape shock and divorce rumours have certainly been a talking point in recent months.
    But could the accusation have any grounds?
    Here is everything we know about Kanye’s debt and net worth…
    In 2013, Kim and Kanye both moved into a £7million mansion, spending over £1.5million on renovations alone.
    It was also reported that they purchased a £15.6million pad in Hidden Hills, California, which is still in the re-vamping process.
    If that wasn’t enough, their property empire continues to sprawl across the globe, as they’re house owners in Paris and New York City.

    How come Kanye is in debt?

    The entrepreneurial 39-year-old has launched a number of different ventures, but not all of them have been successful.
    In 2011, he attempted to release a collection of high-end womenswear, but the luxury garments never made it to stores.
    Following the failed business attempt, French founder of the French A.P.C. line Jean Touitou alleged that the fashion experiment lost Kanye £23million.
    Kanye’s expensive taste could be another reason why his bank balance hit rock bottom.
    Not only do his lavish properties come at a price, he’s also owns a Mercedes Maybach, which costs almost £150,000.
    The world-renowned music producer is also renowned for his generosity.

    He has splurged on pricey gifts for Kim, including Birkin bags, a luxe Louis Vuitton fur coat and a £3.5 million Lorraine Schwartz engagement ring.
    It’s not just his partner that Kanye’s famous for, as he’s splashed the cash on behalf of friends and other family members.
    Not only did he buy his toddler North a diamond tiara, it’s also been reported that he spent £26,000 on a golden skull gift for fellow recording artist Jay Z.

    Why is Kanye suing Lloyd’s of London?

    At the beginning of August 2017, Kanye declared he was suing the bank Lloyd’s of London for £7.56m after they failed to make a payout over his cancelled 21 tour dates.
    The bank has blamed Kanye’s cancellations on him smoking weed, suggesting this caused the health problems he experienced at the end of 2016.
    Kanye was admitted to a psychiatric hospital at the time, with “exhaustion” given as the reason for his collapse.
    The rapper claimed he paid Lloyd’s “hundreds and thousands of dollars” to cover cancellations but he is yet to receive a penny from the bank.
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