Kanye West No Longer A Billionaire After Adidas Terminates Partnership
Kanye West has lost his billionaire status following Adidas’ decision to officially cut ties with the designer amid his many current controversies.
According to Forbes, Ye’s deal with the brand accounted for $1.5 billion of his net worth. Parting ways with the athletic-wear giant now brings his estimated value down to $400 million.
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“The remainder of Ye’s fortune, Forbes estimates, comes from real estate, cash, his music catalog, and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims,” the money mag reports.
Adidas’ decision, according to the company, came down to West’s anti-semitic statements as of late, including tweeting that he would go “death con 3” on Jewish people. He also bashed the “Jewish media” while on his latest episode of Drink Champs, which has since been removed from YouTube and Revolt.
Reps for HBO’s The Shop also claim that the Donda artist recited hate speech against Jews as a guest on the show, resulting in them refusing to air the episode — which just so happened to also feature his “Put On” collaborator, Jeezy.
“Adidas does not tolerate antisemitism and any other sort of hate speech,” stated the brand in a press release issued on Tuesday (Oct. 25). “Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.”
The statement continues, “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products, and stop all payments to Ye and his companies. Adidas will stop the adidas Yeezy business with immediate effect.”
In addition to being dropped by Adidas, the Chicago-native has also been forced to remove millions of dollars from his JP Morgan Chase account, and has been dismissed by both Vogue and Balenciaga.
