Kanye West, 'I Can Buy UMG For $33 Billion!'

Kanye West (Photo: Tinseltown / Shutterstock)

KANYE WEST told JOE ROGAN on his podcast last SATURDAY night that he was ready to buy UNIVERSAL MUSIC GROUP at an estimated value of $33 billion, an evaluation that is by and large correct. 

“I was thinking about buying my masters [but] I realized that was too small of a thought," he said/ "UMG is only a $33bn organization. I’m one of the greatest product producers that ever existed. And I’m a child; I’m 43 years old. I was $53m in debt four years ago. Now it’s proven that I’m the new MICHAEL JORDAN of products.”

Thanks to products including his YEEZY sneaker empire, WEST claims to have a current personal net worth of $5bn, alongside an annual personal cash flow of $300m. Just seven months ago, a consortium led by CHINESE music giant TENCENT acquired a 10% stake in UMG for $3.3bn.

VIVENDI indicated last week it intends to take UMG public in 2022.

“They have another STEVE JOBS, HOWARD HUGHES, HENRY FORD, WALT DISNEY, ELON [MUSK] kind of character in their midst," WEST said, referring to himself. "But they are so concerned with the control of the idea of artists. They are using me as this artist who has attracted other artists. Also, I used them. I got famous. I made some money, I got to tour. I became this superstar, so we used each other. Now there’s just an adjustment that needs to be made in the relationship. I can make and I will make products that will make more money than UNIVERSAL is worth.”

WEST insisted he "not at war with the music industry ....It’s just time for us to innovate. We need to have contracts that make sense with exactly how we sell music. I had 10 contracts that kept on putting me inside a labyrinth. I believe that the distribution partner that the label is, it’s like PRINCE would go and say, ‘We don’t need the distribution partner,’ especially if he was alive and thriving in this internet era. I’m not trying to go and eliminate anyone’s job. Record labels are afraid of saying, ‘Okay, We’re going to hand over the distribution completely to you guys.’ There’s a way where both parties can be happy and these infrastructural partners can be of service to the influencer, to the artist. These deals can be flipped in a way that they are just more fair. At this point, music loses me money. It doesn’t make me money. My $5bn net worth and $300m of cash that I see a year, music is like negative $4m for me.”

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