In the aftermath of his Hitler-praising rants and canceled partnerships, Kanye West’s financial situation might be as chaotic as his current line of thinking as the disgraced rapper’s Yeezy apparel company owes over $600,000 in unpaid tax debt to the state of California.
NBC News reports that Yeezy Apparel — a company West owned and managed outside of his Adidas and Gap partnerships — received three separate tax lien notices from California, dated July 2021, Feb. 2022, and as recently as Sept. 2022.
USC Gould School of Law Professor Edward McCaffery told NBC News of Yeezy Apparel’s $600,000 tax debt, “That’s certainly a sign of either extreme incompetence or extreme cash problems.”
However, the $600,000 lien — which is three times the amount of his new monthly child support payment — is potentially just a drop in the bucket that is West’s financial disarray: In his brief appearance on Tim Pool’s podcast last month, amid the antisemitism talk, he hinted at his current cashflow situation, revealing that his banks had frozen him out of $75 million and that he owed $50 million in taxes.
“I’m talking about literally finding out that they were trying to put me in prison this morning,” West claimed. “But I found out — okay, so they froze, they put a $75 million hold on four of my accounts. And then they said, you owe a lot of taxes. Took me like six hours to find out how much. A lot… around $50 million.”
The former billionaire then admitted, “I’m obviously not the most financially literate person on the planet,” and wondered whether he could still run for president in 2024 if he’s jailed for tax evasion.
The Internal Revenue Service did not comment to NBC News about Yeezy Apparel’s debt, noting that “Federal law prohibits the IRS from commenting on or confirming anything related to private taxpayer matters.”