He said this during a three-hour-long interview with Joe Rogan that was released on Saturday.
During this interview, he spoke about his presidential campaign, relationships with God, the music industry and his contracts, his fashion line, his takes on abortion, medication and racism.
He said: “At this point music loses me money. Of my $5 billion net worth, music is negative $4 million.”
He added, “I was thinking about buying my masters but I realized that’s too small of a thought. I’m gonna buy Universal. They’re only a $33 billion organization.”
However, in his interview with Rogan, West said he is not at war with the industry.
“I’m not at war with the music industry. I’m just saying we need to innovate. When I posted my contracts, I had ten contracts that kept putting me inside a labyrinth and things we don’t need.”
“Prince would say we don’t need the distribution part,” he continued. “I’m the kind of person where I’m not trying to eliminate anyone’s job. There’s a way both parties can be happy. These deals can be flipped in a way that they’re just more fair.”
Watch the interview below: