Kanye West has long been proud of his status as one of Hip Hop’s few billionaires, but it appears he no longer holds a claim to the title.
According to Forbes, Ye’s billionaire boys club membership has been revoked following the termination of his lucrative adidas deal.
Forbes estimated Kanye’s partnership with the German sportswear giant — with whom he developed the hugely successful Yeezy brand — accounted for $1.5 billion of his net worth. Now that he’s been dropped by the company, Ye is reportedly worth closer to $400 million.
adidas cited Kanye West’s recent anti-Semitic remarks while announcing its decision to cut ties with the increasingly controversial rapper/fashion mogul with immediate effect on Tuesday (October 25).
“adidas does not tolerate anti-Semitism and any other sort of hate speech,” a statement from the company read. “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.
“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.”
adidas is also feeling the sting of terminating their partnership with Kanye West, with the sportswear company expected to lose roughly $246 million in net income in 2022.
According to Bloomberg, adidas’ shares fell by as much as 4.5 percent following the announcement, marking its biggest slump since 2016 — the same year they struck a long-term partnership with Ye.
Kanye officially became a billionaire in April 2020, making him just the second billionaire rapper behind JAY-Z, who achieved the feat less than a year earlier.
However, Ye’s exact net worth has long been disputed. After Forbes initially pegged his net worth at around $1.3 billion, the G.O.O.D. Music boss claimed it was more like $3.3 billion “since no one at Forbes knows how to count.”
Kanye West Reveals The Last Time He’s Ever Held Money
The following year, it was reported Kanye’s net worth had skyrocketed to $6.6 billion thanks to his since-terminated deal with Gap, which would’ve made him the “richest Black person in America.” However, Forbes once again brought things down to Earth, estimating the figure to be closer to $1.8 billion.
More recently, the Chicago native has claimed his net worth was as high as $11 billion (prior to losing his adidas contract, of course).
Kanye West’s pockets may yet take a further hit having being dumped by a string of major companies and collaborators over his inflammatory comments, including the fashion powerhouse Balenciaga and talent agency Creative Arts Agency.
So tired of this clown. Every day hip hop websites, blogs and podcasts cover Kanye stories because he put himself out there like that. He wants to be the center of attention all the freakin time. What an egotistical narcissist. He’s like a tantrum-throwing kid.
????? the rain is coming!
Them consequences and personal responsibilities must taste bitter
Bitch had it coming,
Net worth don’t mean anything
Ppl in USA say Addidas is nothing without Kanye, in Europe we laugh at that! Because Kanye is nothing without Addidas actually 😉 haha
U buggin. EU fools not relevant
You’re fav rappers clothes and cars are from EU, what rock are you living under?
Nike>Adidas. Everybody knows that. Go back to watching your boring “football” games, make sure you brush your teeth, and keep hoping we continue to protect you from China, Russia, and North Korea. Without us you would already be a huge hole in the ground.
Without y’all the gas prices wouldn’t be so high, keep thinking the world needs USA. In Europe we laugh at Biden and RESPECT Putin. Now go back to watching your boring school shootings sucker.
Hahaha!
Somebody find Kanye West the worlds biggest Dunce cap and sit him in a corner
His world is about to tumble, and it’s about time too, and yes he needs that dunce cap, even a kid has more sense
$400Mil Will Last Him A Lifetime, Atleast If He Comes To South Africa Then His Still A Multi-Billionair
I see he is following his adopted father’s ( Donny Trump) lead by overestimating his personal wealth. He needs to focus on his children.
So basically most “billionaires” that are sitting on 2 billion or less are really just millionaires ? Thats my takeaway from this article is people lime Jay-Z, Dr. Dre, Kylie Jenner, etc. are all fake billionaires who arent actual “billionaires” in cold hard cash. The real “billionaires” are Elon Musk, Warren Buffet, Bill Gates because they have over a billion cash in banks without counting their businesses values which can fluctuate depending on trends. The better thing to do is for Forbes to start measuring wealth by bank accounts. Bet you half of these “billionaires” will become millionaires instantly. And your favorite rapper who claims to be sitting on 100 million probally only has 10-25 million in the bank. Just saying…
Maybe billionaires become billionaires because they have their capital deployed and working, not sitting in a bank as cash lol you sound dumb as hell
Facts, only banks make money from cash. They loan money, these clowns take their credit cards and run up the balance buying Yeezy boots, while the bank charges them 15% interest. Also, he’s talking like 10-25 mil is peanuts, most people won’t make 10mil in their lives.
Lol@rushcard…shoot most people won’t even see 500k.
Are you a kid or an adult who works at a fast food restaurant? Which one is it?
No one has a billion in the bank because money isn’t real. Their money is in their businesses and assets
Only person I can imagine with a hundred million in cash is Birdman his brother Slim
That’s the kiss of death in business, anti-Semitism.
I hope everyone takes him to court for all he has,
Play stupid games win stupid prizes!
Imagine losing 1.5 billion and still being worth 400 million. He’ll bounce back and be bigger than ever by spring time
Crazy (ex) billionnaire dude is 2 lawsuits away from being broke AF again and he doesnt even realize it…. All that money down the drain because he cant keep his bipolar yap shut on the internet…
The small hats, who totally don’t have any power, are using all their power (which they allegedly dont have btw) to silence Ye. To make an example of him “this is what happens when you speak the truth. the truth is antisemitic”
Listen to his music and shit the fucc up…. Fanatics
Shut*
The truth is….there should be more „passengers“ on amistad, black ppl kill more of their own than white ppl does. All u do is sell crack and make riots for private advantage. If he isn’t antisemitic, I’m not racist. The truth is racist. You will never evolve
Fuck judÃos
He gonna make it all back now that he’s free and out them soul sucking contracts!
Look at al the Kanye jock sniffers saying “He’ll make it all back….” – really? How? The deals he had in place were with people handling virtually all the logistics of business. The supply chain, the warehousing, the manufacturing, the distribution, the e-commerce, the marketing, etc. etc. etc.. Kanye helped with designs and his name and likeness were used. That’s about it. He would not only need to get extremely organized to setup every single aspect of business, but he’ll need to do it in an environment where people don’t want to work with his crazy ass anymore. Additionally, a large portion of the people that are his target market don’t want to fuck with him anymore. So nut huggers, how is Kanye going to make it all back?
“Happiest day of my life!”
What nick cannon said was much worse. He knows whose a** to kids i guess.
Give him some of those Alex Jones lawsuits to humble him.