Kanye West Shuts Down Construction Company Amid Financial Struggle

Kanye West is going through a lot right now, and has been for almost a full year following his fallout with The Gap, Adidas, and the public after his anti-semitic comments and other controversial behavior. While he's up to other endeavors these days like his Yeezy fashion shows, his pockets don't seem to run as deep as they used to. Moreover, AllHipHop reports that the Chicago native shut down his construction company, Yeezy Construction, Inc. What's more is that he actually had at least one major project on the horizon when it came to property. However, it seems like that goal is unattainable at the moment.




Furthermore, he planned to renovate his $57 million Malibu property and customize it as he saw fit. To elaborate, Kanye West basically rendered the home skeletal as he sought to add new windows and invest in making it his own. Back in November of 2022, reports emerged that the 45-year-old halted said process because of his worsening financials and business relationships. Now, the U.S. Sun reports that sources see the property abandoned and in ruin.




Read More: Kanye West Net Worth 2023: What Is Ye Worth?

Kanye West's Abandoned Malibu Property

Kanye West's $57 Million Malibu Mansion Is Vacant and Has Been Taken Over By Pigeons (Photos) https://t.co/FhocEnkToz pic.twitter.com/9cSSBqLyyE
— Robert Littal BSO (@BSO) April 15, 2023

The financial repercussions that Ye faced for his antics vary, whether it's partnerships cutting ties altogether or forming some sort of compromise due to the other side's monetary fallout, as well. For example, recent reports indicated that Adidas did, in fact, freeze Kanye West's account totaling close to $100 million as he previously claimed. While they agreed to sell the remainder of unsold Yeezy stock, it's clear the brand wants to officially terminate the relationship as soon as possible. In addition, they announced that most of the proceeds will go to the Anti-Defamation League, a leading voice against antisemitism, and the Philonise & Keeta Floyd Institute for Social Change dedicated to the life of George Floyd and justice for marginalized communities.




Meanwhile, as new Yeezy colorways and designs hit the Internet, fans wonder just how much money this will net the multi-hyphenate. Also, debate surely sprouted among many fans on whether they would support this decision. Regardless of how it pans out, it will be very interesting to see how this business deal comes to a close- and how much stakeholders and the company leaders themselves will benefit from it. For more updates and the latest news on Kanye West, stay logged into HNHH.




Read More: How Kanye West Helped "Chipmunk Soul" Define An Era Of Hip-Hop




[via]


via: https://www.hotnewhiphop.com/683326-kanye-west-malibu-construction-company-shut-down