Once A Billionaire, Kanye West Has Over $1 Million In Unpaid Taxes

Kanye West, who was once valued at over $1 billion, now faces a series of mounting financial challenges, which include escalating tax bills and a potential closure of his Yeezy fashion line.

According to recent reports, West’s tax liabilities have surpassed the $1 million mark, with the rapper allegedly owing additional property taxes on a Wyoming ranch he owns. Park County records indicate that West’s firm, Psalm Cody Ranch LLC, has failed to make two property tax payments totaling $5,747 due in May of this year.

This adds to a growing list of financial troubles for the 47-year-old artist. West’s Yeezy Apparel brand has been hit with four tax liens amounting to $934,033, and he is also faced with tax liens of $101,093 on two of his Los Angeles properties.

The chaos within West’s business empire extends beyond his tax woes. His Yeezy fashion line, once a lucrative venture, appears to be in disarray, as the company’s website is currently closed for online purchases, with a message that states that only 2,500 orders are remaining to be fulfilled.

West has reportedly turned to unconventional hiring practices to staff his Yeezy design team. Instead of relying on established industry professionals, he has begun to recruit designers with limited experience, such as students, interns and early-career individuals. The company has even resorted to posting job openings on platforms like Craigslist, a departure from the standard industry channels.

The financial turmoil and organizational challenges at Yeezy have taken a significant toll on West’s overall financial standing. Once a billionaire, the rapper’s net worth has reportedly dwindled, with much of his wealth tied up in now-defunct business deals and stock holdings.

The legal battles surrounding West’s affairs have also escalated, with his attorney, Brian Brumfield, withdrawing from two lawsuits for which he represented the once-celebrated rapper. Brumfield cited West‘s refusal to communicate with counsel and his failure to pay legal fees as the primary reasons for the withdrawal.