Kanye West claims he owes the IRS $50 million in taxes

• Kanye West claimed that the IRS placed a $75 million hold in a podcast Monday.
• According to the rapper, he owes approximately $50 million in taxes. 
• He is now valued at around $400 million, which is a significant drop for the once-billionaire.

Ye, formerly Kanye West, has stated that the Internal Revenue Service placed a $75 million hold on all his accounts. 

Ye spoke about his financial situation during a Monday night episode of the right-wing “Timcast IRL” podcastThis was also featured white nationalist Nick FuentesMilo Yiannopoulos is an alt-right figure. Ye told Tim Pool that his “finance folks” had told him that he was going to have to “pay a lot of taxes.” 

The rapper stated that he was literally notified by them that they wanted to put me in prison this morning. “But I found out — okay, so they froze, they put a $75 million hold on four of my accounts.”

“And then they said that you owe a lot. It took me about six hours to find out the exact amount. A lot — was it — well, around $50 million,” Ye said.

He stated that he was not the most financially educated person on the planet and said that he had spoken to “different CFOs” in his businesses to determine if avoiding taxes would be tax fraud.

“So now I’m having — I get to actually learn how to run a company. Ye spoke about his finances and said that he was able to count. “It’s almost like I didn’t know where to put the money.” 

On Monday’s episode of the podcast — which Ye later walked off of in a huff when Pool questioned an anti-Semitic comment he made — the rapper said he was trying to buy his own bank and wondered aloud if he could run for president from jail. Ye saidIn November, he declared that he would run for president again. a failed bid in 2020. He has not filed the paperwork to do so.

The rapper claimed that God is “breaking” him by “removing all his riches” but that his children will be fine since his “baby mama” Kim KardashianMoney is a valuable asset.

Ye has been a source of constant controversy, especially since he became a political figure. several anti-Semitic rants in October. BrandsYe was among the many people who cut ties with Adidas and Balenciaga during the crisis. estimated net worth down from $1.5 billion to $400 million.

In NovemberYe claimed Adidas is suing Ye for $275 Million of his remaining net worth. This was after Ye announced onOctober 25, Ye announced that he was ending his partnership. Adidas declined to comment on Ye’s claims. 

Insider’s request for comment was not immediately responded to by the IRS.