- On a podcast on Monday, Ye said the IRS put a $75 million hold on four of his accounts.
- The rapper, formerly known as Kanye West, said he owed about $50 million in taxes.
- He’s estimated to be worth about $400 million, a massive drop for the onetime billionaire.
Ye, the rapper formerly known as Kanye West, said the Internal Revenue Service put a $75 million hold on his accounts.
Ye talked about his financial situation during a Monday-night episode of the right-wing podcast “Timcast IRL” that also featured the white nationalist Nick Fuentes and the alt-right figure Milo Yiannopoulos.
Speaking to the host Tim Pool, Ye said his “finance people” told him he would “have to pay a lot of taxes.”
“I’m talking about literally finding out that they were trying to put me in prison this morning,” the rapper said, adding: “But I found out — OK, so they froze, they put a $75 million hold on four of my accounts. And then they said you owe a lot of taxes. Took me, like, six hours to find out how much ‘a lot’ was. They said, well, around $50 million.”
He said he was “obviously not the most financially literate person on the planet” and added that he went to the “different CFOs” involved in his businesses to find out if not paying taxes would be tax evasion.
“So now I’m having — I get to actually learn how to run a company. I get to learn how to, you know, to count, really,” Ye said of his finances, adding, “It’s like I didn’t even know where to put the money.”
On Monday’s episode of the podcast — which Ye later walked off from in a huff when Pool questioned an antisemitic comment he’d made — the rapper said he was trying to buy his own bank and wondered aloud if he could run for president from jail. Ye said last week that he was running for president again after a failed bid in 2020. He has not filed the paperwork to do so.
At one point during the podcast, the rapper said that God was “breaking me down” by “removing” his riches but that his children would be fine because his “baby mama,” Kim Kardashian, has money.
Ye has been a source of controversy of late, particularly after he went on several antisemitic rants in October. Brands including Adidas and Balenciaga cut ties with Ye; Forbes estimated in late October that Ye’s net worth was $400 million, down from about $1.5 billion.
Ye claimed last week that Adidas, which ended its partnership with him on October 25, was suing him for $275 million. Adidas declined to comment on Ye’s claims.
The IRS did not immediately respond to Insider’s request for comment.
Source: Business Insider
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