Last Tuesday(10/25/22), Forbes stated that Kanye “Ye” West is no longer on its billionaires’ list because his partnership with Adidas has ended. The sportswear firm terminated its partnership with Kanye after he made some antisemitic comments. Adidas said it doesn’t tolerate antisemitism and other types of hate speech. It termed his recent comments “hateful, unacceptable, and dangerous.”
Adidas said it decided to end its partnership with West “immediately” after a thorough review. The firm said Kanye’s comments violated its “values of inclusion, diversity, fairness, and mutual respect.”
According to Forbes, when Ye lost his partnership with Adidas, a deal worth about $1.5 billion, experts calculated that his current net worth is now $400 million. The report states that Kanye’s remaining assets making up the $400 million net worth consist of his extensive music catalog, non-liquid real estate, cash, and a 5% share of his ex-wife Kim Kardashian’s Skims brand.
Due to his remarks, Kanye has faced significant backlash and lost other business deals with firms like Def Jam and Balenciaga. Addidas immediately ended the production of Yeezy-branded products and stopped all payments to West and his firms.
Footlocker also removed Yeezy products from its shelves and digital sites. A Footlocker Inc. spokesman told ET that the company does not tolerate antisemitism or discriminatory and hateful behavior.
GAP also announced on Tuesday that it would not do business with West again. In September 2022, GAP announced the termination of its Yeezy GAP partnership. It took steps to stop selling Yeezy GAP products in its stores and shut down YeezyGAP.com. GAP said it did not tolerate racism, Antisemitism, or any form of hate according to its values. Vogue and CAA have also cut ties with the 45-year-old rapper turned fashion designer.