That Kanye West, eh? What’s he like?
When he’s not dropping fire albums and pronouncing his own greatness, the ‘I’m In It’ hitmaker is partial to spending money – and plenty of it.
Indeed, this is a man who once rented a sports stadium in order to propose to his other half, Kim Kardashian. He’s clearly a fan of the high life, and doesn’t mind living it to the full.
But having shifted, in scientific terms, shed-loads of albums during his career – along with producing records for the likes of Jay Z, embarking on globetrotting tours and having tie-ins with big, multi-national brands like Adidas – you’d think he’d be able to finance his lavish lifestyle.
Well, perhaps not.
The ever-modest rapper took to Twitter this week claiming to be $53m in debt, then asked Facebook entrepreneur Mark Zuckerberg for a $1bn investment to finance West’s many ideas.
As far as business pitches go, we’ve heard better.
But how exactly does one go about landing oneself in that much debt – particularly when you’ve reportedly got $147m in your coffers already?
Reports emerged this week of the sort of profligate antics which could have landed the troubled rapper in such hot financial water.
They range from spending $62,000 on diamond-encrusted tiaras for daughter North, to $34,000 on a golden skull ornament as a Father’s Day present for pal Jay Z. That’s before we get to the $1.2m he drops as a matter of course on armoured vehicles.
It all adds up.
Of course, the cynically minded amongst you might think that this almighty kerfuffle might have something to do with the fact that ’Ye released a new album this week, the Life of Pablo... and the Money Shot wouldn’t entirely blame you.
But even that’s not going to plan.
Users of premium music streaming service Tidal have complained after the album failed to download when they'd paid for it. Elsewhere, internet pirates are going positively doolally for the album and downloading it for free in their droves.
It’s lucky, then, that West is married to Kardashian, who’s earned a bit herself from her fashion line and multi-million grossing mobile game, ‘Kim Kardashian: Hollywood’.
However, given this week’s lurid revelations, it might come as no surprise to you that Kim keeps a separate bank account to Kanye. And who could possibly blame her?
News in brief
Pension firm Royal London reckons that young people will have to start putting money away for retirement at 22 and face up to slogging on until they’re 77.
First Direct and HSBC customers are going to be offered access to their bank accounts through voice and speech recognition.
The newly privatised Royal Mail has announced it’ll raise the price of stamps by 1p next month.
A potential exit from the European Union would threaten the paid holiday entitlement and maternity leave of UK workers, according to Frances O’Grady, the general secretary of the Trade Union Congress (TUC).
On Covered mag this week
We took a look at how the kitchen went from being an area solely for drudgery to the heart of the home.
Wholesale oil and gas prices are plummeting, but why aren’t energy customers feeling the full benefit?
Tough new emissions laws are on the way this September – what do they mean for van owners?
Dan Moore took a look at the quite-literal trend for ‘killer selfies’.
Money Shot Letters
It was with some interest that I read your column on ‘buy one get one free’ offers last week.
I couldn’t help but think that it was fitting that I read it on your not-so-hallowed pages – I’m usually of a mind to tell you to ‘BOGOF’ after reading another one of your dreary missives.
Geoff Peters, Lymm
Join us next week for another croissant-munching edition of the Money Shot. Until then, send us your letters.