Despite having an alleged debt of $53 million, Kanye West remains one of the most influential music icons in the world. Kanye West net worth is estimated at $145 million and his power and influence in the media as a celebrity is growing stronger. He is considered as a modern influence and his ideas despite being controversial have even led him to a chance to have a meeting with new President-elect Donald Trump.
His wealth was accumulated due to his numerous concerts, music events and projects he had created in the past. Kanye West earning potential continues to remain strong; he is a brand in itself and continues to invest in his own business.
The name Kanye West alone has a big impact in the music industry, he has become influential and has over 20 Million Twitter followers, and this is something that a lot of major companies would pay for just to get a piece of mention from him. When he decided to release his latest album on music streaming service and app Tidal, it only took one tweet from him, to push the app to the top spot on the US App store proving his undeniable power to move the market.
His income generating influence is expected to grow more after partnering with one of the most recognizable social media influencer in the world Kim Kardashian. Despite announcing that he is $53 million in debt, critics and business experts are saying that he would be able to pay this amount back in just one year. He could pay this debt with just one movie or one big endorsement contract.
Kanye West earns an estimated $22 million to $30 million a year, according to some critics; he was just announcing that he is $53 million dollars in debt as a way to strategize a new marketing technique. This is just a way for him to publicly solicit the help of Mark Zuckerberg, whom he asked $1 billion so that he could keep making art. His announcement also included a shout out to Google’s Larry Page. All of the stunts Kanye West has done recently must just be a marketing technique to establish his brand more. By martyring himself, he could end up earning more in the long run.
There are also those who believe that he might just be staging this off as a way to collect insurance money to pay off the $53 million debt. When he stormed off the stage and started promoting Donald Trump, and when he refused to continue with his concert. This might just be a ploy to get even more attention from the media. There have been speculations that even the burglary that happened in Paris with Kim Kardashian must have been staged, to collect even more insurance pay.
Both of them are earning millions of dollars from endorsements, music, concerts and other projects that they have delved into.
Kanye West has reportedly earned an estimated $42 million from sales of his albums and singles and $105 million from concerts. An additional stream of income worth $9 million was also added from YouTube and a total of $50million for product endorsements.