Abuja - Although $53m is correct, it’s not debt.
In his recent Twitter rampage, Kanye West stated that he is $53m in "personal" debt and publicly solicited the help of Mark Zuckberg and Google’s Larry Page from whom he asked $1bn to support his dreams, according to Vanity Fair.
Of course, this set the internet ablaze with a slew of jokes and memes around the artist’s "broke status".
But they’re all wrong. If you thought Kanye’s latest tweet reflected the rap icon’s reckless surplus way of life, think again, because his tweets are merely a form of business. Kanye is not in "personal" debt, but needs capital to fulfill his "dreams".
Kanye’s so-called debt "is what he’s done to spend on his clothing lines over the past 15 or 20 years," Kris Jenner briefly explained on the Ellen DeGeneres show.
So instead of drawing up a business plan and addressing a board of investors surrounding a boardroom table, think of it as an "elaborate and modern version" pitch.
According to Vanity Fair writer Emily Jane Fox , Kanye West is making use of series A funding - a mixture of seeking investors and crowd sourcing for business ventures.
Summed up, Kanye West’s tweet reflects what he's invested in the fashion and music industry thus far.
Like any other business, both industries require brutally significant upfront costs and the controversial rap icon’s state of monetary affairs after G.O.O.D Music Merchandise, Pastelle, and all of his other experimental lines and collaborations, is a great reflection of exactly what it takes to put clothing down a runway with promise of very little return.
According to TMZ, Kanye didn’t see a dime from Nike after his first generation lines of shoes.
Sure, there are ways to start a clothing line with minimum cost, but when you’re Kanye West then frugality does not exist.
Is this the reason his latest Adidas range is so grossly expensive? Who knows, but the bottom line is they’re not about to switch off his water and electricity.