Kanye West’s net worth drops from $2billion to $400million after Adidas ends Yeezy deal
Kanye West‘s net worth has reportedly plummeted from $2billion (£1.3billion) to $400million (£348million) following the end of his partnership with Adidas.
According to Forbes magazine, “Ye is no longer a billionaire” after Adidas terminated their contract with the rapper and entrepreneur today (October 25) over his anti-semitic comments.
The deal was said to have a value of $1.5billion (£1.31billion) but now that the partnership has ended, Ye is worth $400million. Forbes estimates that the remainder of his fortune comes from his music catalogue, cash, real estate and a 5 per cent stake in ex-wife Kim Kardashian’s brand, Skims.
News of Ye’s net worth comes following news that Adidas will stop production of its Yeezy line after nine years due to his “unacceptable, hateful and dangerous” comments.
The German sportswear brand said in a statement today: “Adidas does not tolerate anti-semitism and any other sort of hate speech.
“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 company added it expects to take a hit of up to €250million (£217million) to its net income this year from the split.
Adidas is the latest organisation to cut ties with West following the likes of Def Jam, JP Morgan Chase, and Balenciaga who have all condemned the rapper’s recent statements which have been criticised as being anti-semitic.
During a recent interview on the Drink Champs podcast, which has since been removed, the rapper made further anti-semitic comments, saying “the Jewish media blocked [him] out”. He also made more inflammatory comments during a recent interview with Fox News that was not aired but leaked online.
Hate speech is never OK or excusable. I stand together with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end.
— Kim Kardashian (@KimKardashian) October 24, 2022
“Hate speech is never OK or excusable,” she tweeted. “I stand together with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end.”
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