KANYE West’s $57.25 million Malibu beachfront mansion could be permanently left to rot after his construction company was quietly dissolved last year, The U.S. Sun has learned.
The rapper and entrepreneur is thought to have hit some financial trouble after his Yeezy brand was dropped by Adidas in October due to his anti-Semitic remarks.
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He then canceled contractors working on the Japanese-inspired property, which he bought in September 2021, according to an insider, and it’s been left gutted mid-renovation.
Now, The U.S. Sun can reveal the star closed down Yeezy Construction Inc. in November, which means that the rotting mansion may remain in its current state for good.
Exclusive new photographs reveal what a mess it’s become.
When Kanye purchased the trendy grey cube, which is designed by celebrated architect Tadao Ando, it was partially fitted out with windows and needed only to be renovated internally and painted.
The property is meant to be “part house, part sculpture”, with only a few Ando designs being seen throughout America, but Kanye completely gutted the place and now all that remains is the concrete shell and rusting balconies, while utility pipes have been left abandoned underneath the property alongside the beach.
His construction firm was set up in Wyoming, where he bought a $14 million ranch, which he pulled from the market last August and is thought to have also been gathering dust.
MONEY MOVES
The 45-year-old was hellbent on setting up the Yeezy brand in Cody, Wyoming, renting and buying several properties, but that idea was abandoned and he’s now secured a base on Melrose Avenue in Los Angeles, as exclusively disclosed by The U.S. Sun.
Despite claiming he lost “$2billion in a day” when he was dropped by multiple brands, he’s determined to bounce back, with the help of his new ‘wife’, Bianca Censori.
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He has begun leasing a 7,400-square-foot showroom on Melrose Avenue in Los Angeles, with exclusive photographs showing construction work ongoing at the site last week.
Reports first claimed earlier this month the space was going to be a new store selling Kanye’s merchandise, but The U.S. Sun can reveal it is more of a “Yeezy HQ,” according to an insider.
They spilled: “The vision for its use has changed to being multi-purpose, it’s not just going to be a store.
“Ye has been hosting parties for three weeks in a row at the venue and giving away sample pieces for his latest collection.”
The huge building – just a few doors down from an Adidas store – has had the windows and doors covered with the entire space painted dark gray in Ye’s signature style.
Workers were seen hammering and building structures at the back of the property earlier this month, while other team members were busy sanding the floors inside.
ONGOING LAWSUITS
It appears Kanye is focusing only on the new space in an attempt to relaunch his fashion and music career, as his derelict properties have been put on the back burner.
They aren’t the only issues he’s facing, as the star has been hit with numerous lawsuits in the last few years from disgruntled former employees and fellow artists claiming he’s stolen their riffs.
A court search of previous Yeezy lawsuits, many also involving Adidas, reveals it’s been in litigation 952 times in the US, while Kanye has personally been sued 94 times.
Among his biggest problems is a suit brought by The Gap which is suing him for $2million in the wake of their failed partnership, according to documents obtained by TMZ.
The Gap is being sued by Art City Center, a company that claims it owns a building in Downtown Los Angeles that was leased by them as a storefront of the Yeezy clothing line.
Kanye is also being sued by former teachers at his controversial LA Christian school, Donda Academy, alleging labor violations and restrictive and unusual school rules.
Court documents alleged the children were only allowed to eat sushi, the school had no janitorial or medical services, and Kanye wouldn’t allow the teachers or students to wear any jewelry.
The teachers also allege the school did not meet Department of Education requirements or follow state regulations, with the case still going through the courts.
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