As if Kanye West doesn’t have enough issues, the super producer and sneaker trapper has now revealed he owes a hefty sum to the IRS.
Ye disclosed during his sit-down with the Timcast IRL podcast that he was facing jail time due to the mounting tax bill. The Internal Revenue Service had even frozen his accounts, totaling altogether $75 million.
“I’m talking about literally finding out that they were trying to put me in prison this morning,” Ye told host Tim Pool. He added that it took nearly six hours to learn the totality of his debt, which is around $50 million.
While such news would typically send anyone else into a tailspin, the 45-year-old uses the situation as a teachable moment. The star says he is seeking advice from other business executives about his options and believes the situation will help him successfully run a company.
His trouble with the IRS is the latest in West’s long list of public fallouts. Adidas cut ties with him and his Yeezy brand following anti-semitic comments, as well as Balenciaga. GAP also vowed to discontinue his collection with them. His soured business dealings have forced him off of the billionaire list, with his current net worth estimated to be $400 million.
In addition to his money issues, Ye and Kim Kardashian have finalized their divorce. Though no spousal support is owed, he was ordered to pay the model $200,000 a month in child support for their four children.