I keep seeing people say Kanye is still filthy rich even though he is $53 million in debt
Can /biz/ explain this?
>>1094385
If the value of his assets outweigh his debt then hes net positive
Also kanye can make millions per night touring so 53 million in debt would be him doing 2 hour sets for like a month straight red eye concert series
>>1094385
I mean the dude probably has tons of liquid assets, why would he borrow money?
>>1094389
For what purpose though?
Does it provide any tax benefits?
>>1094390
So that he could make statements like this and people will throw sympathy money at the millionaire
>>1094385
Who cares? Kanye has white boys and jews watching out for him. He'll die better off than most of us.
>>1094393
Yeah, borrowing against your assets is a good way to spend tax-free.
For example, if I have long term assets sitting in an investment account and sell them to get spending money, I would pay taxes on capital gains (i believe).
Being rich with good income, Kanye can get low interest rates to spend with, so he can get a loan, and spend less than if he were to sell his assets and spend his own money.
>taking anything this man says seriously
>>1094385
AYO HOL UP
HE RICH IN SWAG SENPAI
>>1094457
good to know if I ever make any money
>>1094389
Did you copy paste your post from /biz/?
>tfw I have more money than Kanye West
>>1094510
Is this what it means to live in a debt economy? Do we live in the fucking matrix?
>pay 37,000 buttcoins for ooga booga jungle noise
>get ripped off
Ayyyy
>>1094564
but he didnt
hes just memeing and a ton of morons took the bait
nigga tried selling white cotton t shirts for $120
>Egyptian cotton meme
$400 shoes that look like $40 sketchers
