After Adidas severed connections, Kanye West lost his billionaire status
Kanye Omari West, better known by his stage name Kanye West or Ye, is an American rapper, record producer, and fashion designer who lost his billionaire status when the German multinational company Adidas severed its relationship with him.
This was announced by Forbes, an American business magazine, in a publishing on Tuesday.
Given that his lucrative contract with Adidas is terminated, Forbes claimed that Kanye is no longer eligible for inclusion on its list of billionaires.
Due to antisemitism, Adidas had cancelled its contract with the famous rapper and fashion designer.
West has posted multiple anti-semitic tirades on his social media accounts in recent weeks.
The rapper uploaded a screenshot of a text exchange he had with Diddy in which it purportedly appeared that West claimed Combs was under the control of Jews in a post that Twitter later removed. Jesus was a Jew. “Jesus is Jew’. I’m a bit sleepy tonight but when I wake up I’m going death con 3 On JEWISH PEOPLE.”
The American Jewish Committee (AJC), in a statement, quickly called out West’s statements for promoting “antisemitic tropes like greed and domination.” His remarks, however, sparked criticism from Jewish celebrities and lawmakers.
The comments quickly increased public pressure on the businesses that the rapper does business with.
Adidas, which reportedly performed a “thorough review” and will immediately halt production of its line of Yeezy items, is one of the most recent companies to cut ties with West.
Without his multi-year Adidas contract, which was estimated at $1.5 billion, Kanye would only be worth $400 million. His remaining assets include his real estate, cash, music library, and a 5% ownership in Skims, his ex-wife Kim Kardashian’s shapewear company.
