The 38-year-old tweeted before appearing on Saturday Night Live in the US: ”Let’s dance in the streets. I am consumed by my purpose to help the world.
West didn’t say how he had plunged so far into the red, but he has previously confessed to losing around $16m (£11m) in developing his Yeezy clothing line.
“I was trying to play a sport that’s a billionaire sport,” he told showbiz and lifestyle website BET last year, adding: “It’s not a millionaire sport and I’m proud of the debt.”