Billionaire Kanye West living 'like a transient', spends so much money that his friends see red flags
LOS ANGELES, CALIFORNIA: Kanye West has been living like a transient and burning through his money like there is no tomorrow. According to TMZ, he does not stay in the same place for more than a few days and has also been making rash decisions for his business, which has spraked concerns about an impending financial crisis. He has been renting out fancy rooms and rental homes.
Sources claimed that he spent a huge amount of money for his Yeezy show in Paris and for his alleged purchase of the conservative social media platform Parler. He has also fired investor Shervin Pishevar and lost some of his advisors and publicists.
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One of Went's friends said, "He blows through his money like it's water." The friend added that there were fears he would fall into financial ruin. In a recent appearance on 'Drink Champ', West also revealed that he recently bought a $50M penthouse. This was another noteworthy addition to many other real estate transactions Ye has made.
West also bought a house that was next to Kim Kardashian's house she now owns in Hidden Hills. The house Ye bought needed a major remodeling but he bought it so that he could stay close to his children. However, neither has the house been touched in the past year since its purchase nor has the 'Life of Pablo' rapper ever lived in it, TMZ reported. He was also building another house in Malibu which was also close to Kim's house, however, the house is anything but completed.
Speaking on buying Parler, West said, "In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves," as per TMZ. The company also expressed its thoughts by saying it was a "groundbreaking move into the free speech media space and will never have to fear being removed from social media again."
West's social media antics resulted in him getting banned from Twitter and Instagram. This seems to be a reason he was inspired by Elon Musk and Donald Trump in buying his own social media platform so that he was free to speak his mind. Parler was initially pulled back as internet service providers said that its policies did not turn out to be beneficial in preventing hate speech or potential violence. The terms of purchase were not disclosed and Parler stated that the company was yet to go into a formal contract with West.