KANYE ISN’T BROKE
It’s basic economics, motherf*****. slate.me/1RO0028
- •A few days ago, Kanye West went on Twitter and asked Mark Zuckerberg for $1 billion.He said he was $53 million in debt, and needed more money to share his ideas with the world.
- •Later, he anointed himself this generation’s Disney, and also asked Larry Page for an investment.Then he accused San Franciscans of supporting schools in Africa more than rap artists.
- •So are his money problems that bad?
- •Actually, if he’s just on the hook for $53 million, he’s probably fine.
- •Here’s why:
- •His assets could be greater than his debts.Maybe he owes $53 million to the bank. But he could easily have $100 million in net worth.
- •Even if they aren’t, Kanye’s still getting paid.Forbes estimates he makes between $22-$30 million a year.
- •A conservative estimate would give him debt equal to 240% of his income.A normal American household has only 107%.
- •But it would only take him five years to pay off his debts.So Kanye’s “debt” is equivalent to an average person’s mortgage.
- •He wouldn’t even need to ask his wife for money.Kanye and Kim Kardashian keep separate finances, anyway.