On the one hand, Ye is just the end of Kanye's name, just as you'd use Nell for Danielle, perhaps. On the other hand Kanye noticed it was the most frequent word in the bible. I suspect he'd liked to have used God or Jesus, but balked at that. Kanye actually means the only one, and Ye is just the plural of you.
He wanted to convey this closeness with his fans, that he, Ye, was You, all in one. A very confused reworking of being a God to all people. Yes, it's easy to see what he and Trump have in common. Self delusion and, unfortunately, power.