His confession comes as he releases his long awaited album 'The Life of Pablo'
Rap star Kanye West says he is $53m (€47m) in debt.
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.
''I write this to you my brothers while still 53 million dollars in personal debt... Please pray we overcome... This is my true heart...
''This is all all is fun all in good feelings... We will all be gone 100 years from now but what did we do to help while we were here!!!
''They are calling me to the SNL stage now ... Speak soon... (sic).''
He appeared on Saturday Night Live as the musical guest and also in a sketch alongside comedian Kyle Mooney, who challenges him to a rap battle.
West didn't say how he had plunged so far into the red, but he has previously confessed to losing around $16m (€14m) 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."
West, who has two children with wife Kim Kardashian, launched New York Fashion Week with his Yeezy Season 3 show last week.
He also used the show to preview his latest album The Life Of Pablo.