Kanye West officially lost his wife, must provide more than 4 billion-HO

Kim Kardashian and Kanye West both denied the right to seek alimony from the other. They agreed to take a meditation course together to resolve arguments involving their children. If one quits halfway, the other has the right to make decisions of his own accord.

Recently, Kanye West is said to be deliberately prolonging the time to finalize the divorce proceedings. He doesn’t accept that he has lost Kim Kardashian.

According to documents obtained by TMZ, Kanye West was supposed to have spoken with Kim Kardashian’s lawyer on Nov. 16. However, for some reason, he did not come.

The two parties agreed to sign divorce paperwork at 9:30 a.m. on Nov. 29. If he continues to be absent, the rapper will face serious problems as this is an important basis for the judge to make a divorce ruling in the upcoming court hearing, which is set for December 14.

“Of course, Kim and Kanye can come up with a settlement agreement before December 14. But as we said, he is not cooperative. So at this point, the settlement is a tough one,” the source said.

According to People magazine, the couple has recently finalized agreements regarding property division and child custody. They have mutually agreed to co-parent their four children: North, aged 9, Saint, aged 6, Chicago, aged 4, and Psalm, aged 3. As part of the settlement, Kanye West is required to provide $200,000 per month in child support to his wife. Additionally, he must cover half of the children’s healthcare, education, and security expenses.

While Kanye and Kim share joint custody and “equal access” rights to their four children, sources close to Kim Kardashian informed TMZ that Kim continues to serve as the primary caregiver for approximately 80% of the time. Kanye acknowledged this arrangement in September.

Kim Kardashian and Kanye West have both waived their rights to seek alimony from each other. Instead, they have agreed to participate in a mediation course together to resolve disputes concerning their children. In the event that one party discontinues the mediation process prematurely, the other will have the autonomy to make decisions independently.

Their assets, including those acquired during their marriage, will be divided according to the terms outlined in their prenuptial agreement. The decision to divorce comes nine months after Kardashian was legally declared single during a court hearing.

According to Page Six on October 30, sources close to Kanye West have revealed that despite having a substantial amount of cash, he faces significant financial challenges ahead if he doesn’t take steps to rectify his situation. Estimates suggest that he has over $100 million in his bank account, which may only sustain his lavish lifestyle for a few months.

West’s income primarily stems from five major sources, four of which have been either discontinued or severely compromised. Over recent years, the rapper has generated income through contracts with Adidas, Gaps, concert earnings, publications, and music rights.

Recently, Adidas, Kanye West’s primary source of revenue, announced that it would cease payments immediately after terminating his Yeezy sneaker contract. Additionally, in September, Gap ended its two-year contract with West and revealed plans to remove YEEZY x Gap products from store shelves.

Furthermore, West was scheduled to host a show at SoFi Stadium in Los Angeles on November 4, but it was canceled. Sources suggest that West is unlikely to proceed with the show amidst the ongoing scandal.

West currently has a music album but has not yet secured a deal to find a distributor. Billboard reports that album royalties earn him approximately $5 million per year. However, as one insider told Page Six, “That’s just enough to pay his gas bill for his jet.”

In September, West’s team attempted to sell his publication for around $135 million, but it didn’t generate much interest.

Last year, West purchased a $57 million home in Malibu, California, and undertook a complete reconstruction project. According to Page Six, this project is now at serious risk due to his financial troubles. The rapper also owns several other homes, but many of them are mortgaged.

On October 25, Forbes removed Kanye West from its billionaire list after he was suspended by Adidas. On Oct. 27, West reported a loss of about $2 billion. A series of brands such as Adidas, Gap, Balenciaga announced the termination of the contract because of his racist and hateful actions.

Kanye West received a wave of boycotts from many colleagues and partners after a series of confusing actions. In mid-October, Kanye West suddenly posted a controversial tweet that he wanted the military to be ready to deal with and attack Jews. The post was later removed from social media. However, many Twitter users took photos and reshared them to criticize him.

The conflict between the pair began when Kanye West ran for president of the United States in July 2020. The rapper made many derogatory remarks about his wife’s family on social media. Kim Kardashian later said her husband suffers from bipolar disorder, which leads to uncontrollable behaviors. The two reconciled a few months later but remained frequently apart. Kim Kardashian filed with the court in February 2021.