Kanye West Pauses Renovations On His $57M Beachfront Mansion Amid The Speculation Of Financial Woes

Now that Kanye West has won his $75 million case with Adidas, maybe he can put some of that money into the rotting Malibu mansion he owns.

According to The U.S. Sun, the Malibu beachfront property Ye bought in September 2021 for $57.25 million is in such disarray that it might be permanently damaged. The mansion is in disastrous condition due to construction on it being stopped last year by the controversial entertainer.

Because Ye was dropped by Adidas in October 2022, the money allegedly earmarked for the property was no longer available.

It was reported by The U.S. Sun that Ye canceled the contractors hired to work on the property, and a source revealed the property was left gutted mid-renovation. Ye shut down his construction company, Yeezy Construction Inc., in November 2022.

Mint reported that Adidas has ended its federal case against Ye. The court reversed a decision to freeze Ye’s account, which held $75 million, after initially deciding to keep Ye from the funds.

According to The Associated Press, this occurred right before Adidas started selling some of its remaining Yeezy shoe stock. The German brand stated that a portion of the sales from the Yeezys will go toward fighting discrimination, hate, racism, and antisemitism.

Since 2013, Adidas was in a successful business relationship with Ye that lasted nearly 10 years. Ye’s Yeezy brand was the company’s top-selling shoe. But the brand decided to cut ties with the controversial music producer after he made antisemitic statements.

In 2022, Ye appeared on the “Drink Champs” podcast (which has since been deleted), where he dared the apparel company to do something to sever their relationship. His contract was terminated by Adidas after he stated, “I can say antisemitic things, and Adidas can’t drop me. Now what?” The athletic company began discussing parting ways with the Chicago rapper shortly afterward.