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Kanye wants to buy label

Kanye West has revealed plans to buy major record label Universal Music Group - worth an estimated $33 billion.

Speaking on The Joe Rogan Experience, the Gold Digger hitmaker opened up on his grievances with the label surrounding ownership of his master tapes.

According to Kanye, who claims to have a net worth of around $5 billion, he would rather buy the label outright than pay them to own his masters, calling the music industry "a treacherous place."

"At this point music loses me money. Of my $5 billion net worth, music is a negative $4 million," he says. "I was thinking about buying my masters, but I realized that's too small of a thought.

"I'm gonna buy Universal," insists the rapper, who is also running for presidency in November's (20) U.S. election. "They're only a $33 billion organization."

Kanye recently shared a clip of himself urinating on his Grammy Awards in protest of his deal with Universal, after publishing screenshots of his contract with Def Jam Music Group - a subsidiary of the label. The stunt led to critics, including LL Cool J, slamming him for being "disrespectful."

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