In the song, West and Foxx deliver a tongue-in-cheek criticism of 'gold diggers', women who seek out well-to-do mates mainly to profit from their wealth. "Now I ain't saying she a gold digger," West tells his audience, "but she ain't messin with no broke niggas." The first verse describes the protagonist being sucked in by a lady's beauty, and unable to resist when the costs of being with her escalate. In the released version, the verse "messing with no broke niggas" was changed to "messing with no broke broke" which West claims to mean "the poorest of the poor". The description of the 'gold digger' hints at her taste for the finer things (but oddly enough the protagonist is attracted to her for it, showing that the 'victims' here aren't so unwilling after all). Later, we see the charm wear off as he is being taken advantage of. She obliges him to help out all of her kids and all of their friends at his expense. Kanye then mentions that he's not the first hip-hop star who's been in her sights, but he still can't resist her: "From what I heard she got a baby by Busta / My best friend say she used to fuck wit Usher / I don't care what none of y'all say, I still love her."

The second verse generalizes and discusses the long-term 'trap' where a gold digger gets a man to father a child, locking him in for child support to spend on herself, while not having to actually stay with the man. He mentions a pro football player acquaintance who is stuck in this trap, and pays so much (of his million-plus dollar salary) that she lives better than he does. This reflects a common sentiment among male divorcees considering alimony and child support as little more than money-siphons. The feeling is exacerbated because the gold digger doesn't use the money to take care of the child. Instead, she gets liposuction and so much plastic surgery that she's "lookin' like Michael (Jackson)" She even lies to her man about the paternity of her child, resulting in the man supporting the child for 18 years until he discovers he is not the father. Kanye proposes a solution to this: In a famous call-back response he claims "If you ain't no punk, holla 'We want pre-nup!'"

In the third verse, West addresses himself to a female listener, first assuring her that he isn't talking about HER, of course (I ain't sayin' you a gold digger, you got needs). He urges her to stick with her man, even if he is a dishwasher or cook at a fast-food restaurant, instead of going after the men with the money. In an ironic final twist which punctuates the sarcasm inherent in the song, West tells the 'gold-digger' that when that hopeful and ambitious broke man finally "gets on," he is very likely to "leave your ass for a white girl."

Source: Wikipedia