Kaylah Walton
Kanye West, once a successful billionaire, now faces a dire situation with his Yeezy business halting orders and a mounting number of lawsuits. Concerns from close sources suggest he might encounter severe financial difficulties.
The downward spiral began in 2022 following public outrage over Kanye’s anti-Semitic remarks. Despite the success of his recent independent album “Vultures” on streaming platforms, Kanye is reportedly contemplating stepping back from the music scene. Rapper Rich The Kid shared a text from Kanye expressing his thoughts on retiring from music as he feels uncertain about his next steps.
Kanye’s fashion brand Yeezy is also experiencing challenges, ceasing order acceptance after thriving previously. The turmoil surrounding Kanye is exacerbated by multiple legal actions from former Yeezy and Donda Academy staff members, as well as his former personal assistant.
Kanye’s financial status has undergone a significant transformation with reports from Forbes indicating a decline in his net worth from $2 billion to $400 million. Despite possessing substantial resources, sources suggest his spending habits are unchecked, and the increasing lawsuits could result in substantial settlements.
An insider shared with The U.S. Sun, stating, “He may have earned money in the past and from his recent album, but if he continues on this path, he may encounter serious financial problems in the future. While he might not go broke, unless he gets his life together, he will face a reality check.”
Kanye’s lavish lifestyle includes luxury accommodations, travel to exotic destinations, fine dining, and shopping for luxury attire. Nevertheless, his Yeezy business is struggling to recover, with complaints about delivery delays and unfulfilled orders predating Kanye’s decision to reduce prices.
Yeezy Business Halts Operations: Kanye’s Fashion Empire in Turmoil
An announcement on the Yeezy website declared on July 3 that online purchases are no longer accepted. This came after the closure of his Yews New platform introduced in December.
The Yeezy headquarters in West Hollywood faces disorder following Kanye’s removal of the roof. Production at the Los Angeles Apparel factory, where most of his clothing was made, has come to a halt. Although Kanye appointed Dov Charney, the founder of Los Angeles Apparel, as Yeezy’s current CEO, his level of involvement remains uncertain.
This week, Kanye was sighted at another commercial building on Beverly Boulevard in West Hollywood, likely a location he is renting and planning to refurbish despite the disarray at his HQ.
A source mentioned, “Kanye frequently changes his mind and struggles to complete a project.” While he collaborates with Russian designer Gosha Rubchinskiy, Yeezy has not gained the desired traction.
Following his separation from major brands such as Balenciaga, Gap, and Adidas, Kanye’s fashion realm suffered a blow. The termination of his Adidas partnership in October 2022 was particularly devastating, with Adidas citing Kanye’s unacceptable behavior and statements as reasons for ending the collaboration.
Touring has presented challenges for Kanye, with numerous venues prohibiting his performances. His last-minute listening events for “Vultures” saw poor attendance, drawing criticism for not performing live but instead dancing to tracks from the album.
Several properties owned by Kanye, including his Malibu beach house, have been neglected, left in disrepair without doors or windows. As Kanye’s empire continues to crumble, both fans and insiders observe closely, questioning whether he can reverse the situation or if this marks the conclusion of the once-powerful mogul.
