Forbes made the confirmation that Kanye West is not any more a billionaire. He went from $2.2 Billion to $400 Million after his partnership ended with Adidas, and he almost lost all of his deals after he made antisemitic remarks on official social media and in national media appearances.
American rapper mentioned in the statement, “I can say antisemitic s—- and the company (Adidas) cannot drop me,” stated the American rapper, who legally now goes by the name “Ye,” during the Drink Champs podcast earlier this month.
He has been working with Adidas since 2013 on his Yeezy line of super-popular sneakers, super-expensive, which he thought he was untouchable.
According to the investment bank Cowen, addidas got approximately 4 percent to 8 percent of its sales from Yeezy products. It was an excellent deal for Kanye West, accounting for about $1.5 billion of his net worth.
German multinational corporation shared the information in a press release, and they noted the company did not tolerate antisemitism as well as any other sort of hate speech. Kanye West’s recent comments and actions have been unacceptable, dangerous and hateful, and they violated the value of the company of diversity as well as fairness, mutual respect and inclusion.
“After a thorough review, Adidas has taken the decision to terminate the partnership with the American rapper immediately, end the production of branded products of Yeezy as well as stop all payments to West and his companies. Adidas will come to an end with the Adidas Yeezy business with immediate effect.”
Furthermore, with that action, Kanye West is no longer a billionaire.
