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Do You Know Kanye West Spent Nearly $6 Million Of His Money On His Presidential Campaign?

Lynda

Sept. 18, 2020

Kanye West has spent nearly $6 million on his presidential bid so far, according to his first filing with the US Federal Election Commission. The filing, which covers fundraising and spending between July 15 and August 30, shows that the rapper has mostly self-funded his long-shot run, loaning the campaign $6.8 million. The campaign has spent $5.9 million so far, mostly on efforts to get on the ballot in states.
Kanye West is mostly self-funding his presidential bid, and his campaign spent nearly $6 million in the first month alone.
The rapper kicked off his presidential run in July, and last week was the first time that West's campaign had to disclose fundraising and spending to the FEC. The Friday filing shows that West has loaned his campaign $6.8 million, and that the campaign has received $11,000 in outside contributions, according to reports. The campaign has spent $5.9 million so far mostly on efforts to get him on the ballot in several states. West is currently on the ballot in 10 states, according to reports, but has been rejected from several others and is currently suing to get on some of those contested ballots.
Many have questioned why West has entered the race, speculating that he's running to drum up attention for a new album or to hurt Democratic nominee Joe Biden's chances of beating President Donald Trump, who West has supported in the past.
The FEC filing shows that West's campaign has spent $4.4 million getting onto ballots, and owes $1.2 million to political consultants. Other line items include $444,000 to Millennial Strategies for polling and $95,000 to a charter jet company.
West's total wealth is estimated at $1.3 billion. Forbes officially confirmed Kanye West a billionaire in April, 2020. Kanye West has surpassed Jay-Z to become the highest-paid person in hip-hop. West has made an estimated $150 million in 2019 almost double Jay-Z's $81 million. The publication looked at pretax income from June 2018 to June 2019 before deducting fees for agents, managers, and lawyers.
But the majority of West's fortune doesn't come from his music. His footwear and apparel brand, Yeezy, is expected to bring in more than $1.5 billion in sales in 2019. The hip-hop artist spends his millions on luxury cars; lavish gifts for his wife, Kim Kardashian West , and their children; and an impressive real-estate portfolio that includes a $14 million Wyoming ranch.
Do you think Kanye West's self funded presidential campaign will affect his networth? Let us know your thoughts in the comment section?
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