On Saturday night, West, 39, stormed off the stage of Sacramento’s Golden 1 Center, cutting his concert short after infuriating the crowd during a 15-minute rant about several of his peers, including Beyoncé, Jay Z, Hillary Clinton, DJ Khaled, Mark Zuckerberg, Taylor Swift and LeBron James. And on Monday, he announced the cancellation of the remainder of his Saint Pablo tour.
While fans will be fully reimbursed for their tickets, West’s pocket will be significantly emptier. So how much money does the rapper stand to lose?
In September, West — who’s reportedly worth a whopping $145 million — sold nearly $780,000 worth of tour merchandise at his Madison Square Garden show in New York City, according to TMZ. If the numbers remained the same throughout each of the 21 stops he canceled, West could be missing out on more than $16 million in merch sales alone.
According to Forbes, West had been grossing an average of $1.5 million per city on the tour and will likely miss out on around $10 million in earnings.
As far as the cancellation of his Los Angeles show on Sunday night, West likely took a big hit. According to the Washington Post, when concerts are canceled last-minute, the artist could be on the hook for the venue, hired security and staff, advertising, tickets sold, ticket-takers and local vendors hired. If the “Famous” singer had canceled the show days in advance (rather than merely three short hours before he was slated to take the stage), he would most likely only be charged for reserving the venue.
In a strange twist, West’s hospitalization may be his financial salvation. According to a report from TMZ, the rapper could stand to receive a substantial insurance payout that would cover not only his lost concert revenue, but also the money owed to venders including owners of the venues where he was scheduled to perform. A standard entertainment insurance policy has a provision which states that a claim would take effect if “accident or illness … prevents any Insured Person from appearing or continuing to appear in any or all of the Insured Performance(s) or Event(s).”
However, there is a chance that the insurance company will deny compensation if it’s revealed that West had a preexisting condition that he failed to disclose at the time the policy was drawn up.