Kanye West, or better known as Ye, has lost his billionaire status after his large partnerships have come to an end. According to Forbes, the latest cut from Adidas causes the rapper to lost his net worth.
Now after the Adidas deal, Ye is worth roughly $400 million. In addition, Forbes reports that Ye’s stake in the company venture with Adidas was valued at $1.5 billion dollars through royalties and Yeezy products sold by Adidas.
FACT: Before Kanye West was "the face of Anti-Semitism," he was one of the hip-hop faces of misogynoir, anti-Blackness, Trumpism, and slavery-denial.
And y'all still gave him contracts, documentaries, endorsements, clothing deals, and millions that became billions.
— Ernest Owens (@MrErnestOwens) October 25, 2022
At this time, Ye holds most of his value through real estate, a large amount of cash, and a five percent stake in Skims with Kim Kardashian.
Adidas joins the likes of CAA cutting ties, Balenciaga fashion house, and more. This all came after his latest remarks in a recent podcast where the rapper stated “I can say antisemitic things and Adidas can’t drop me.” Others say Adidas dropped the rapper for other reasons.
Adidas didn’t drop Kanye West to stand against anti-semitism.
They dropped him because their stock was falling hard and an analyst told them to in order to salvage their stock value they needed to drop him.
Nothing heroic about what they did.
— Tony Posnanski (@tonyposnanski) October 25, 2022
According to sources, the rapper was obsessed with his net worth status. When he first made the list in 202, Ye reportedly messaged many reporters saying “it’s not a billion,” it was actually “$3.3 billion since no one at Forbes knows how to count.”
YouTube removed Kanye West’s video.
Their message: rappers can talk about murder, drugs, sex, speak disparagingly about Black people, and disrespect women, but if they say anything that is offensive to Jews, they’ve crossed the line.
Saying this isn’t antisemitic, it’s truth.
— Bishop Talbert Swan (@TalbertSwan) October 22, 2022
Forbes stated that Ye continued to press the magazine every year claiming he was worth more, at one point claiming he was worth an estimated $4.3 billion. Yet, the magazine claimed was worth $2 billion.
Adidas announced they would not be cutting ties with Kanye…until their stock dropped 17%. That helped them see the light.
— Duty To Warn 🔉 (@duty2warn) October 25, 2022
Under the Adidas partnership, the brand owns the rights to all color schemes and designs.