Following his recent controversial antics, Kanye West has fallen out of the ten-digit club, meaning he has lost his status as a billionaire, amidst the termination of several lucrative partnerships, with the latest being Adidas.
According to Forbes, Kanye’s estimated net worth was two billion dollars, with a whopping one point five billion dollars attributed to his relationship with Adidas.
With the termination of the lucrative deal with Adidas, Kanye’s net worth is now estimated to be around four hundred million dollars.
Although the Adidas deal itself wasn’t necessarily the main reason Yeezy’s fortunes fell, it was described as a huge part of his wealth, and the final nail in the coffin in regards to his position as a billionaire.
Speaking about the severed ties, Adidas in a press statement said, “Adidas does not tolerate anti-Semitism and any other sort of hate speech. 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.”
Forbes noted that Kanye’s remaining net worth is now tied to his music catalog, real estate holdings, liquid cash, and his five percent stake in his ex-wife, Kim Kardashian’s shapewear brand, Skims.
Just so you know, following his anti-Semitic scandal, Kanye has recently been dropped by JPMorganChase, Balenciaga, Gap, his talent agency CAA and the MRC studio that was creating a documentary on him, he has even also lost his contract with Def Jam.
#ESplashOnTVC || Entertainment Splash October 26th, 2022
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