"Just like Taylor Swift, my publishing is being put up for sale without my knowledge. Not for sale," West reportedly said.
Kanye West denies trying to sell all his songs for $175 Million
Rapper Kanye West has denied looking for a buyer to pay $175 million for all his songs.
This news of a potential sale was revealed by several reports that West’s team have been asking around to find out how much West’s whole music catalogue will fetch him.
According to the reports, West hopes to get 35 times the net publisher’s share, or gross profit, from the sale.
As things stand, West’s share of his publishing earns him estimated $5 million per year. Overall, though, West’s team revealed, the rapper’s publishing generates about $13.25 million in royalties annually.
Still, the devil is in the details and since West’s songs have multiple songwriters, the percentages allotted to him for any given song thereby reduce.
However, according to several reports, West owns a larger percentage of the publishing royalties on his first four studio albums (35%) than his latter catalogue (20%).
Sony Music Publishing, which currently administers his catalogue, has yet to release a statement on the above reports.
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West may or may not be in the market for somebody or some persons to buy his hoard of records, but the rapper does not seem to be short of money.
According to Forbes magazine, West has a net worth of $7 Billion US.
West, a maverick who suffers from bipolar disorder, is a self-made billionaire sitting atop an empire powered by his “Yeezy” brand.
Adidas Yeezy is a fashion collaboration between German sportswear company Adidas and West. The collaboration has produced sneakers shirts, jackets, tracksuit pants, socks, slides, women's shoes, lingerie and slippers.
West is one of the world’s best-selling music artists, with over 160 million records sold.
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