Kanye West’s reported breakdown isn’t just costing him his reputation; it could also cost him millions. The rapper stands to lose millions of dollars after he canceled his Saint Pablo tour Monday, the same day he was hospitalized for stress, dehydration and sleep deprivation.
West, 39, could lose up to $30 million, TMZ reported Wednesday. He’s also responsible for vendors who he made contracts with.
Luckily for West, he still might get paid the money. The rapper had an insurance policy that covered him in case he became ill and couldn’t perform, TMZ reported. The insurance will also cover the vendors he signed contracts with if “accident or illness ... prevents any Insured Person from appearing or continuing to appear in any or all of the Insured Performance(s) or Event(s).”
The insurance plan isn’t iron clad, though. West wouldn’t get paid out if he didn’t disclose a preexisting condition before the policy was issued. Here’s the key part: The contact would be void if West's sickness was a result of his “unreasonable or capricious behavior.”
In February, the “Life of Pablo” star claimed he was $53 million in debt. But the Chicago native has a net worth of $145 million, according to Celebrity Net Worth. It could be as high as $180 million, Bustle added in February.
There are rumors West was handcuffed to a gurney and taken to UCLA Medical Center Monday, but the rapper reportedly went on his own accord. “He was not restrained” and “he went freely,” an insider told People Magazine Wednesday.
“He is exhausted and currently dealing with sleep deprivation,” the source said. “He went to the hospital at will under the advice of his physician. He’s fine.”
West, nor his wife, “Keeping Up With the Kardashians” star Kim Kardashian, has released a statement about his mental health.
Follow me on Twitter @mariamzzarella