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 two years ago, despite having a very healthy net worth.

After telling people that he 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 in a 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-three 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 [on] Dec. 30 and 31 [2016] at Brooklyn’s Barclays Center, he was guaranteed more than $1.5 million per performance.”

Kanye West's net worth in 2018.

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 that the musician could be in trouble because he spends such "outrageous" amounts of money. Most of it goes to security for his wife — who was robbed at gunpoint in October 2016 — and kids North, 4, Saint, 2, and new addition Chicago, as well as to nannies.

Plus, Yeezy owns a $4.5 million NYC apartment 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.”

Thankfully, Kim's career is booming. The 37-year-old's latest collection of perfumes — crystal gardenia, crystal gardenia oud, and crystal gardenia citrus — reportedly made $10 million in just one day! When all is said and done, the business mogul is allegedly pocketing around $14 million from that launch alone. Not too shabby.

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