Kanye West announced he was officially running for president on the Fourth Of July. Despite some road blocks along the way, namely being removed from several states’ ballots, Kanye’s campaign is pushing forward in hopes he will receive votes in the November election. Kanye’s campaign finally filed their first report with the Federal Election Commission (FEC) on Friday, and it shows the rapper is apparently paying out of pocket for most of his election efforts.
According to documents his campaign filed with the FEC, Kanye loaned his own campaign an impressive $6,760,000. His personal loan was the only one his campaign has received thus far for the period starting July 15 and ending August 31. He has, however, received a handful of donations totaling $11,472.
per The Hollywood Reporter:
The only other source of income for his campaign were eight relatively small-dollar donations from seemingly typical citizens, ranging from $200-$1,000.
The campaign currently has debts totaling more than $1.2 million, with almost all of that owed to “Fortified Consulting” of Tempe, Arizona. That company shares an address with Lincoln Consulting Group, a political consultancy co-founded by Nathan Sproul, the former executive director o the Arizona Republican Party.
While Kanye fronted his campaign $6.7 million, much of the loan has already been spent on operations expenditures. In less than two months, the rappers campaign has used up $5.8 million of the loan on day-to-day costs, meaning they have about $900,000 left in the bank. Meanwhile, Trump’s FEC report states his campaign has $120 million on hand while Biden’s campaign has $98 million.
It seems as though Kanye will have no problem continuing to finance his campaign as the rapper was recently named the highest-paid male celebrity of 2020. The rapper also recently flexed his bank account after denying he’s being paid to help Trump’s re-election efforts, saying “Bro, can’t nobody pay me! I got more money than Trump!”