In The Know

Kanye West no longer a billionaire after Adidas cuts ties with rapper: report

Ye, the rapper formerly known as Kanye West, is no longer a billionaire after Adidas became the latest company to cut ties with him for making antisemitic comments, according to Forbes.

With the Adidas deal gone, Ye is worth about $400 million, Forbes estimates, adding the musician “no longer has a place” on its billionaire list.

Ye’s stake in the partnership with the German sneaker and sports apparel company was valued at $1.5 billion by Forbes through royalties from Yeezy products sold by Adidas.

The remainder of Ye’s net worth stems from real estate, cash, his music catalog and a 5 percent stake in ex-wife Kim Kardashian’s clothing company Skims.

Adidas pulling its partnership is the most costly blow to Ye amid the fallout from his antisemitic comments, joining Creative Talent Agencies and the Balenciaga fashion house in cutting ties with the rapper.

Ye has made a series of antisemitic remarks, blaming the “Jewish media” and “Jewish Zionists” for a series of misdeeds and threatening to go “death con 3 on JEWISH PEOPLE.“

In a recent podcast, he said, “I can say antisemitic things and Adidas can’t drop me.”

According to Forbes, the rapper was obsessive about his net worth on the billionaire’s list. When he first was placed on the list in 2020, he reportedly texted editors and reporters at the magazine that “it’s not a billion” but actually “$3.3 billion since no one at Forbes knows how to count.”

Forbes said Ye continued to pressure it every year, including this year when he tried to claim he was worth $4.3 billion but was cited by the magazine as worth $2 billion.

Adidas on Tuesday dropped its partnership with Ye, announcing it would immediately stop making his products and paying the rapper.

Under the partnership, Adidas owns the design rights and color schemes to the products.

Ye’s critics had ramped up pressure on Adidas to end the sale of high-end Yeezy products, and the sneaker company announced earlier this month the partnership was under review.

The Anti-Defamation League joined others in urging Adidas to make a “clear statement” about Ye’s conduct.

Tags Adidas billionaire billionaire list Forbes Kanye West Kanye West Yeezy products
See all Hill.TV See all Video

Most Popular

Load more

Video

See all Video