Kanye West attempts to cash in on presidential run by releasing pricey merchandise... before making dubious claim he has gone from debt to net worth of $5BILLION
Kanye West is attempting to cash in on his 2020 Vision presidential run by releasing pricey merchandise on Wednesday night despite not actually being on the campaign trail.
However hours later the 43-year-old rapper bragged about having a net worth of $5billion after being millions in debt.
Kanye launched an online merchandise store and campaign site which included $60 hats and $160 hoodies during the Vice Presidential Debate between Mike Pence and Kamala Harris.
Wait til he gets his money right: Kanye West - seen at a rally in South Carolina back in July - is attempting to cash in on his 2020 Vision presidential run by releasing pricey merchandise on Wednesday night despite not actually being on the campaign trail
Quite the price: Kanye launched an online merchandise store and campaign site which included $60 hats and $160 hoodies during the Vice Presidential Debate between Mike Pence and Kamala Harris
'Thank you Jesus': Just hours later, the 43-year-old rapper bragged about having a net worth of $5billion after being millions in debt on Twitter Thursday
The All Of The Lights hitmaker promoted his new campaign site and newly released products by recording a video where he had his 2020 Vision campaign hats held in front the heads of the two vice presidential candidates as they viewed the debates on Kanye's massive screen.
Kanye also released a summary of his presidential platform on the website which included restoring prayer in the classroom, equality in the criminal justice system, reducing debt, and focus on environmental causes.
On Thursday morning Kanye shared a screenshot of an OK Magazine headline which read: 'NEWLY RELEASED PERSONAL FINANCES ESTIMATE KANYE WEST'S NET WORTH AT $5 BILLION.'
Sending a message: There is also a hat and matching hoodie which boldly says 'Vote Kanye' on it
He went on to brag about being a multi-billionaire as he captioned it: 'From $53 million in debt to a net worth of $5 billion in 4 years. Thank you, Jesus. I know I fall short, but I repent. I am fully in service to our Lord and Savior Jesus Christ.
'We are building schools of the future. Thank God for providing the increase.'
The claim of his net worth comes at an interesting time as it was recently claimed that the rapper and footwear designer values three of his companies at $50 million each and says his partnerships with Adidas and Nike are worth a combined $30 to $75 million, Business Insider reported Monday.
However, he also disclosed he has up to $100 million of debt, mostly from mortgages.
'They had to get the merch first': The All Of The Lights hitmaker promoted his new campaign site and newly released products by recording a video where he had his 2020 Vision campaign hats held in front the heads of the two vice presidential candidates
At least it isn't a fly! Mike Pence also got the same treatment as they viewed the debates on Kanye's massive screen
His finances are set out in personal financial disclosure forms filed with the Federal Election Commission as required by all candidates for public office.
Kanye announced in July he was running for president as an Independent in a self-funded campaign.
By late summer, according to the documents obtained by Business Insider, he had spent $6.7 million that he loaned his campaign.
But he has failed to make the ballot in most US states and the District of Columbia.
What are the odds? This comes at an interesting time as it was revealed that West, who claimed in September he is worth $5 billion, stated in personal financial disclosure forms for his presidential bid that he has 'hundreds of millions' in assets and up to $100 million of debt
High life: An aerial photograph shows Kanye West and Kim Kardashian's mansion in the Bel Air Crest neighborhood of Los Angeles. West, who has previously said he was a billionaire, filed financial disclosure forms indicating he was instead worth hundreds of millions of dollars
Lamborghini mercy! Kanye's Lamborghini Aventador LP 700-4
Kanye has made it onto the ballot for 12 states including Kentucky, where he allegedly spent $400k to get the necessary signatures, and in Iowa, after reportedly paying $80k.
According to a report from TMZ, a source at Let the Voters Decide said Kanye has paid the petitioning group between $3.5 and $4.5 million for them to work across 15 states but with mixed results.
It was also claimed that the same thing happened in Ohio and Virginia, and he is said to have paid $325k and $300k respectively for the signatures but still didn't make it on the ballot.
Many states require Kanye, and other potential candidates, to collected a specific number of signatures from qualified voters showing their support as well as payment of filing fees in order to be put on the ballot, the number varies state-to-state.
Fade: Kanye announced in South Carolina in July (pictured) that he was running for president as an Independent in a self-funded campaign. By late summer, according to the documents obtained by Business Insider, he had spent $6.7 million that he loaned his campaign
The recording artist lists a total of 29 corporate entities in which he serves as a trustee, director, manager, or in other position of leadership. The sectors involved include music, clothing, residential housing and construction.
Half of those entities are located in Cody, Wyoming, where he owns a sprawling ranch which is currently his home base.
The three companies he values at more than $50 million each are Yeezy LLC, Yeezy Apparel LLC, and Yeezy Footwear LLC.
He also said he had received income of $5 million over the past year from eight different entities.
Jumped over the Jumpman: West's Yeezy 350 sneakers on display. The rapper valued the company at more than $50 million in the financial disclosure forms
Flashing Lights: An aerial photograph shows the Woodland Hills home of Kanye West and Kim Kardashian
West topped Forbes Magazine's list as the highest-paid musician of 2020, as well as the highest-paid celebrity overall. West came in at $170 million, which was more than double than the next musician on the list, Elton John, who earned $81 million.
However, rapper West had a run in with the publication in April, when they named him a billionaire.
The article noted that West was left unhappy with their research and findings - stating that he believes his net worth to be around $3.3 billion, rather than the $1.26 billion they have estimated.
'It's not a billion,' West allegedly texted the publication. 'It's $3.3 billion since no one at Forbes knows how to count.'
Power: The Chicago native listed a total of 29 corporate entities in which he serves as a trustee, director, manager, or in other position of leadership. The sectors involved include music, clothing, residential housing and construction
Interestingly, Kanye availed himself of what Business Insider described as 'obscure provision in federal law' to not disclose his spouse's finances, which political candidates typically do.
The rapper, of course, is married to reality TV star Kim Kardashian with whom he shares four children.
The exemption can be invoked in the case of divorce, separation, and 'unusual circumstances.'
Kanye has been declared he is the 'Birthday party' candidate but has failed to maintain a serious political campaign.
Family Business: Half of his corporate entities are located in Cody, Wyoming, where he owns a sprawling ranch which is currently his home base. Meanwhile, his wife Kim Kardashian and their four children primarily remain residing in Southern California
This has led to claims that the outspoken supporter of Donald Trump simply embarked on a publicity stunt aimed at taking votes away from Democratic presidential nominee Joe Biden.
Following a series of Twitter rants recently, Kim spoke out about Kanye's struggles with bipolar disorder and mental health issues.
It came after he broke down in tears at a campaign rally over the summer claiming he and Kim had considered aborting their eldest child, daughter North.
Closed On Sunday: Interestingly, Kanye availed himself of an 'obscure provision in federal law' to not disclose his spouse's finances, which political candidates typically do. The exemption can be invoked in the case of divorce, separation, and 'unusual circumstances'
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