Kanye West Was Once $53 Million in Debt and Begged for Mark Zuckerberg’s Help
Have you ever been so desperate that you asked for a person’s help on social media for all the world to see? If yes, then you are not alone.
Remember three years ago when Kanye West – yup, the better half of Kim Kardashian – took to Twitter to ask Facebook founder and CEO Mark Zuckerberg to invest $1 billion in him because he had a $53-million debt? This made headlines, along with other controversial tweets, that reeked despair, all hinting his financial woes.
Kanye then urged his fans and followers to help get his message to Mark, asking them to do whatever they could to reach him. Apart from the Facebook creator, the rapper also sought the attention of Larry Page, Alphabet Inc. CEO, to answer his financial needs.
The Gold Digger hitmaker, however, never got his $1-billion request but he did become friends with the 35-year-old tech expert as evidenced by their karaoke session.
In three years, Kanye has picked himself up from the rubble – from his $53-million debt claims, he is now earning a whopping $150 million pre-tax. How did he do it? The answer is his successful deal with Adidas, that helped the brand increase its sales by $1.5 billion this year.
We’re pretty sure you have heard of his brand’s name but the shoes come with a steep price tag that only the fashion industry’s who’s-who and the affluent can afford.
The 42-year-old designer has worked his way through negotiations as it was reported that he gets 15 percent royalties for the wholesale price of the shoes on top of the marketing fees, you can definitely say he inked an awesome deal with the German shoe brand.
To put this amount into perspective, NBA superstar Michael Jordan’ssneakers line with Adidas’ rival Nike generates about $3 billion per year, but he only receives 5 percent royalties.
It is worth noting, however, that Yeezy is Kanye’s own brand which he started in 2013 after striking a deal with Adidas, but it took the artist another two years before he launched his first design.
Despite the delay, his $350-Yeezy Boost 750 Light Brown rubber shoes sold out in 10 minutes, but this was just the start of his success. He followed the first launch with the Yeezy Boost 350 and 700 and Yeezy 950, which cost from $300 to $585.
Key to Kanye’s Success
As you can see, this is an illustration of how you can turn your fate around. Kanye’s secret for this impressive comeback? His Christian faith and his bipolar disorder diagnosis that he calls his “superpower,” which he said was the reason for unlocking his creativity.
But mostly, he credits the turnaround to being a natural “product guy.” The father of four shares that he loves problem-solving, one that involves making products that will spark joy among people’s lives as well as items that can help solve their issues.
Kim is extremely proud of her husband and shared that she saw how the rapper worked hard for his products. The KKW Beauty mogul also hinted that she wasn’t surprised at all that Kanye was able to turn his debts into profits in just a few years because she saw the man pour his heart out onto his creations.
More in Bank Stories
Hailey and Justin Surprise Fans with Matching Wedding Rings, And You Won’t Believe How Much They Cost!
In June 2018, Justin Bieber and Hailey Baldwin shocked the world when they reignited their romance, just weeks after the Canadian singer...October 23, 2022
Kelly’s Gloomy Financial Situation: One Bank Account Has a Reported -$13 Balance
‘90s kids would know who singer-songwriter R. Kelly is, he was extremely popular at the time, thanks to his undeniable talent...October 23, 2022
Kelly Clarkson’s Determination to Earning Money Is All the Motivation You Need Right Now
Before The Voice came out and took away a major part of its fan base, American Idol was the show that...October 23, 2022
7 Simple Ways To Get Rid Of Stress
Are you sometimes too stressed out to even think clearly and have no time for a therapy or to relax properly?...October 23, 2022
Celebrity Ventures That Surprised Everyone
Actors, writers, singers and TV stars are all famous in their world. On many occasions, they have ventured out into businesses...October 23, 2022
This Clever Plan Could Help Disney Dominate Netflix By 2020
In 2006, senior Disney executives predicted an enormous shift in the media industry. They predicted that the modern media would consist...October 22, 2022
David Beckham and Simon Fuller No Longer Business Partners! What Will Happen to the Beckham Brand?
More than two decades in doing what he does best, David Beckham announced that he was retiring from football at just...October 22, 2022
Jeff Bezos Might be a Multi-Billionaire, But He Refuses to Spend Because of This Surprising Reason
When you think about all that you would want to do if you had a billion dollars, we bet your list...October 22, 2022
Goodbye Cassini : Check Out The Grande Finale Of This 20-Year Space Journey
If you have been watching the news for the past couple of days, then you must have heard the name ‘Cassini’...October 22, 2022