$53 Million Debt: What Exactly Has Kanye West Been Spending His Money On?

Kanye West raised eyebrows when he revealed in a Twitter rant that he’s $53 million in “personal debt.” The rapper even publicly appealed to billionaire Facebook CEO Mark Zuckerberg and Google co-founder Larry Page to invest in him, suggesting Zuckerberg should give him $1 billion.

The hip-hop mogul, fashion designer and husband of reality TV queen Kim Kardashian West later tweeted that he’s “personally rich” but that he needs “access to more money in order to bring more beautiful ideas to the world.” How rich is he and why is he in so much debt are some of the questions Char Adams and Aurelie Corinthios writing for People.com try to answer.

Kimye’s Wedding

The Wests pulled out all stops when they wed in May 2014. Wedding activities included a bachelorette dinner for Kardashian West and her closest friends that totalled nearly $4,100. West is rumored to have spent a pretty penny for a performance by Lana Del Rey at the couple’s rehearsal dinner and a subsequent guided tour of Versailles.

However, the pre-wedding activities paled in comparison to the main event. The Wests chartered two private jets to transport their hundreds of guests from Paris to the Forte di Belvedere in Florence for the wedding – the couple is said to have spent $409,000 to rent the property. A fleet of 45 to 50 cars and vans shuttled guests to and from the Florence airport – the price for the cars alone is estimated at nearly $70,000.

The rapper and designer is no stranger to spending big bucks on gifts for his friends and family. In 2012, he reportedly dropped $34,000 on a golden skull for his long-time pal Jay-Z’s first Father’s Day, according to MTV. He handled the gift himself, taking a private jet to pick it up.

He bought his wife two custom Hermès Birkin bags, one hand-painted by daughter North West and another painted by artist George Condo, according to E! Online. He showered Kardashian West with 1,000 roses on Valentine’s Day in 2013. Last year, he sent his wife a “couple thousand roses” and arranged a live string quartet for Mother’s Day.

Last Christmas, West shelled out $39,000 for a multi-coloured fur coat and treated Kardashian West to “150 gifts and counting.”

Jewellery

In 2013, West presented his then bride-to-be with a 15-carat Lorraine Schwartz diamond ring estimated at up to $3 million, according to E! He has since spent thousands on more jewellery for Kardashian West and their children, according to multiple reports.

Real Estate

On of top of a $4.5 million Claudio Silvestrin-designed apartment West reportedly keeps in New York City, according to Vogue, he has purchased several homes in Los Angeles that have become incredibly costly projects.

In 2013, he Wests bought an $11 million Italian-style villa in L.A.’s Bel-Air neighbourhood that has required extensive renovation (and a temporary relocation to mother-in-law Kris Jenner’s home). It was intended to ultimately feature a gym, movie theatre, hair and makeup salon, bowling alley, basketball court and indoor and outdoor pools.

More than three years since their first home purchase, the family – who recently welcomed son Saint – have returned to Jenner’s home after reportedly purchasing a $20 million estate in Hidden Hills, California, despite the fact they still own the Bel-Air home. The new estate sits on 3.5 acres and boasts two swimming pools, two spas and its own vineyard, as well as a spacious master suite with a mirrored dressing area and enormous custom closets.

Safe to say, the family of four is in no imminent danger of running out of room for all those roses, furs and jewellery.