Kanye West made some major and surprising announcements during an appearance at the Fast Company Innovation Festival in New York on Thursday, with Yeezy shoe designer Steven Smith. The "Jesus is King" rapper shared his intentions to change his name for a year and run for U.S. President.

The musician emphasised his immense wealth when he said he wants to change his name into "Christian Genius Billionaire Kanye West." He said it will be his new legal name for a year and explained that he is doing it to make people understand why he calls himself a billionaire.

"People say it's crass to call yourself a billionaire, but I might legally change my name to Christian Genius Billionaire Kanye West for a year until y'all understand exactly what it is... It will be on the license plate," West said in footage from the tech event shared by The Sun.

It is unclear if the 42-year-old American rapper was serious or merely joking about his plan to change his name. He grinned though, when the audience laughed at his remarks and when writer Mark Wilson, who hosted the event, advised him against it.

"It's gonna be so hard to type, like in an article. The headlines are gonna get insane. It's gonna break Twitter. Please don't," Wilson said.

In the same event, West talked about his plan to run for U.S. president in 2024, to which the audience burst into laughter that did not go down well. The singer silenced the crowd and he seriously asked them, "What y'all laughing at?" before he continued and said that there would be so many jobs with him as president. West added that he is "not going to run" but he is "going to walk."

"When you see headlines saying Kanye's crazy — one in three African Americans are in jail and all the celebrities are in jail also because they can't say nothing, they got no opinion, they're so scared!" the "Follow God" rapper explained.

West, a loyal supporter of current U.S. President Donald Trump, also advised black Americans to "own your power." According to Page Six, he also talked about bringing back his Yeezy headquarters Stateside to bring jobs to the people of South and North America.

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Kanye West and US President Donald Trump Drew Angerer/Getty Images