A guide to get Yeezy out of debt
Read about Kanye's recent financial crisis. Yes, you read that correctly, Yeezy's having money troubles.
2016 has begun as a not so promising year for Kanye. You know the apocalypse is probably nearing when the great Mr. West (“Mr. West, Mr. West”) has declared himself in debt. Yes, he also declared last year that he will be running for President of the USA in 2020. The US’s probable future president is in heavy debt… what a way of foreshadowing America’s economy…
After calling his family the “New Jacksons” (referring to Michael Jackson) and comparing his richness to Ray J in his latest album The Life of Pablo, Kanye soon turned to social media asking his followers and Mark Zuckerberg for financial assistance.
On par with a history punctuated by bouts of modesty, our superstar tweeted a public appeal for “access to more money in order to bring more beautiful ideas to the world.”
We can’t help but wonder what Yeezy has in mind for the world. Perhaps Mrs. Kardashian West is too busy filming Keeping Up with the Kardashians that she refuses to ‘keep up’ with her husband’s money problems. Kanye did warn us “she ain’t messin with no broke..” men.
However, the most important question is, can Kanye get out of his debt? The solution maybe easier than asking multimillionaires for loans over twitter.
How to get Kanye out of debt
Keeping aside his wife, whose net worth is the tens of millions and whose bank accounts and family wealth can solve Kanye’s problems… there are alternative ways Yeezy can earn his way out of debt.
Kanye has 19.5 million twitter followers, also his website gets about 2 million hits per month. Needless to say, he is not exactly an obscure celebrity no one has heard of.
Here are five ways Kanye can earn back his wealth:
- By selling shirts/merchandise – given Mr. K’s vast following, selling custom T-shirts online via social media promotion should be since. Let’s take Kanye’s twitter account for example: he has 19.6 million twitter users following his tweets. A recent Hubspot article found that click-through rates on tweets from users with 10,000 or more followers is around 0.45%. So let’s do the math:
Kanye’s followers: 19,600,000
Estimated click-through rate: 0.45%
Total clicks: 88,600
For argument’s sake let’s say Kanye made $10 a shirt selling through a custom t-shirt site such as Teespring. If everyone who clicked on the tweet bought the shirt, he’d very quickly have ~$886,000 in his Louis Vuitton jeans. Only $52 million (roughly) to go!
- Promoting ads on Twitter and getting sponsored for his tweets – much like the younger generation today, Kanye can get paid simply because he has about 19.6 million followers on twitter. His vast amount of followers could give him plenty of leverage, allowing him to extort money from corporations and brands for sponsoring particular brands on twitter and advertising on twitter.
- Partnership – Forbes suggest Kanye could also earn the amount of money he needs by partnering with a big corporation, following the footsteps of Diddy and Dre, to create his own brand.
- Touring – both Forbes and Business Insider suggest that Kanye can easily earn back all his debt money by simply touring. He earned around $72 million in his past three years, which is certainly a decent amount to avoid falling into debt. However, as VanityFair suggested West’s debt isn’t a real concerning cause but rather:
“…an elaborate and modern version of a pitch deck in search of that true marker of early-21st-century creative genius: Series A funding.”
How can we confidently say his followers support him?
Listening to Yeezy’s music can be a divine experience for some, but for fewer it is actually a religion. Kanye has his own religion. No, this not a joke, Yeezianity is an actual religion that exists. It is “No Church in the Wild” but an actual existing faith.
So yes, it might be a slight understatement to assume he has an obsessive fanbase. If the avenues above don’t work out, there’s also a campaign to “Get Kanye Out of Debt” that has raised $6,959 to help out Kanye. Only $52,993,041 to go.
Let us know your thoughts on Kanye’s debt by tagging us #lawpath or @lawpath.
Ananya is currently working in our content team as a Paralegal, aiming to provide free legal guides to facilitate public access to legal resources. Pursuing her interest in the regulation of emerging media, her work centres on the legal and business concerns engendered by the application of traditional legal principles to social media.