According to Forbes, West's music and fashion empires, coupled with his investments and sprawling real estate portfolio, saw him reach a peak net worth of $2 billion (£1.7bn) at the start of 2022.

But cracks in his business empire first began to show in September, when it was announced that the rapper would be winding down his partnership with Gap despite inking a 10-year deal with the fashion brand in 2020.

The LA Times shared an email from West’s attorney that read: "Gap left Ye no choice but to terminate their collaboration agreement because of Gap's substantial non-compliance... Ye had diligently tried to work through these issues with Gap both directly and through counsel. He had gotten nowhere".

At the time, The Wall Street Journal reported that West was frustrated with the retailer for not releasing apparel or opening the stores it had promised. Meanwhile, Gap stated that the deal was coming to an end because it was "not aligned" with West.

How Kanye West made his fortune and why he's no longer a billionaire