The embattled Chicago rapper, who is forced to make some cutbacks amid his financial losses, reportedly finds it difficult to sustain custody payments for his four children.
- Jun 28, 2024
AceShowbiz - Kanye West may not want to publicly admit his financial woes, but he is forced to "humble himself" in front of Kim Kardashian. The embattled rapper is reportedly begging his ex-wife to cut him some slack in custody payments for their four children as he currently hits "rock bottom."
Detailing the Grammy winner's alleged money situation, a source tells In Touch, "Kanye's been burning through his savings at an alarming rate and it's starting to have a very real impact on his bank balance. He's still got some money coming in, but ever since he lost that deal with Adidas, he's seen many, many zeros drop off his net worth."
"At first, he didn't let it affect his spending habits, if anything he spent more to prove he could," the source reveals, "but it's now gotten to the point where he's got no choice but to make some cutbacks, like flying coach instead of private jets."
Claiming that it's not easy for Ye to admit his struggles, the source continues, "Reigning in his spending is not something he's used to doing and it's been a huge blow to his ego. Meanwhile Kim couldn't be doing better. She's been very smart with her money and business is booming, so she's able to spoil the kids in a way Kanye can't."
The source further compares Kim's wealth to Ye's current situation, "She can charter a private jet or stretch limo service at the snap of a finger. He's still on the hook for custody payments, which is also something he's finding difficult to sustain."
"So, it's put him in the humiliating position of needing to actually ask Kim to give him a break and help him out," the source adds. "Having to admit to her that things are not as great as he likes to pretend is rock bottom for him, the only thing lower is going broke, so he's had to humble himself and ask her for help."
To further illustrate the financial gap between the former couple, as Kim is finally finishing up renovations on her $70 million dream home in Malibu, Ye recently sold his Wyoming ranch. The reality TV star's net worth grew from $1.3 billion to $1.7 billion between 2023 and 2024, according to Forbes. As for Ye, his estimated 2022 net worth of $2 billion has plummeted to $400 million in 2024 with the loss of his Adidas deal and other sponsorships, according to the publication.
