Kanye West’ Tax Woes: Over $1 Million Unpaid on Luxury Homes and Yeezy Brand Faces Multiple Claims
Though Kanye West may be a successful rapper, designer, and producer with millions to his name, he owes over $1 million in property and business taxes. With Ye owning numerous properties, including some with his ex-wife Kim Kardashian, reports suggest that he has substantial taxes to pay.
Read ahead to know more about Kanye West owes over $1 million in property and business taxes.
Kanye West owes over $1 million in business and property taxes
After several controversies surrounding the rapper, including antisemitic rants by Kanye West, he lost some of his best deals with brands like Adidas, Balenciaga, and more. This eventually caused his net worth to plummet from billions to millions in no time.
REPORT: Kanye West owes over $1 million in property and business taxes.
Yeezy Apparel has four active tax liens filed against it over the last three years. pic.twitter.com/BelUxS7a2P
— XXL Magazine (@XXL) January 3, 2024
While Kanye owns a lot of businesses and properties, the taxes on them that are yet to be paid have been rising. In fact, according to the latest reports from several media outlets, Kanye owes over $1 million in property and business taxes.
More about Kanye owing over $1 million in property and business taxes
Kanye’s Yeezy Apparel, LLC has about four active tax liens against the business from the past three years, making its unpaid taxes reach $934,033.56. Additionally, the two Calabasas homes he owned with Kim Kardashian have taxes on them totaling around $101,093.
According to reports available online, the total amount of business and property taxes owed by Kanye is around $1,035,126.56. It is yet to be known if the rapper will pay the taxes soon or not, as penalties will increase the sum if left unpaid.
More about Kanye West and his financial status
Back in 2022, PageSix reported that Kanye West was a billionaire. However, the reports also claimed that financial trouble could befall the rapper due to rising expenses. Meanwhile, his controversies kept him in the limelight, even causing him to lose some significant deals.
Adidas, Balenciaga, Gap, and other such brands had deals with Kanye that would have kept his billionaire status intact. However, the controversies that Ye was involved in, including the antisemitic rants, actually led him to become a millionaire again. Now, he owes over a million in taxes for the properties and businesses that Kanye owns.