Kanye West Is Currently Spending More Than He's Making (EXCLUSIVE)

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It's no secret that Kanye West is doing pretty well for himself. That's why fans were shocked when the rapper claimed to be massively in debt last year, despite having a very healthy net worth.

After telling people that he had racked up a $53 million debt, an insider revealed to Life & Style that the number is particularly disturbing given how much he could be earning each day. By canceling the remainder of his Saint Pablo tour in November 2016 — he made the decision after suffering a mental breakdown — the father-of-two lost out on a lot of income. "His profits are through the roof when it comes to concerts and merchandise,” the insider shared. “For just the two shows Kanye had scheduled Dec. 30 and 31 at Brooklyn’s Barclays Center, he was guaranteed more than $1.5 million per performance.” So...

How much is Kanye West Worth?

In 2017, the 40-year-old is worth $160 million, $15 million less than his wife Kim Kardashian. Not only is he a successful recording artist, but the "Fade" hitmaker has made a pretty penny off of his apparel collaborations with Adidas.

Despite all that, another source told Life & Style the Chicago native spends such "outrageous" amounts of money that he could be in trouble. Most of it goes to security for his wife — who was robbed at gunpoint a year ago — and kids North, 4, and Saint, 20 months, as well as to nannies.

Plus, Yeezy owns a $4.5 million NYC apartment, a house in Bel Air worth $11 million, and a $20 million Hollywood Hills mansion that he’s been renovating since 2014. Not to mention, he's always taking private jets, which cost roughly $30,000 per flight. The source added, “He’s just always got more money going out than going in.”

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