Kanye West Loses Billionaire Status as More Brands Cut Ties With Rapper Over Anti-semitic Remarks
- US rapper, Kanye West, officially known as Ye has been dropped from Forbes' billionaires' list
- The move follows a fashion brand and sports-wear-making company cutting ties with the rapper
- The rapper, who was worth over $2 billion, is now said to be worth about $400 million
The international rapper is no longer ranked on the Forbes billionaires' list, and the company said after his lucrative deal with Adidas ended.
A few days ago, US rapper and fashion businessman, Kanye West dared Adidas to drop him following his weeklong storm of anti-Semitic remarks on social media and in other appearances.
Source: Getty Images
Rapper dares Adidas
He dared Adidas, saying he could make anti-semitic remarks all he wanted.
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"Adidas, drop me," West, now legally known as Ye, said during a podcast earlier this month.
The rapper had worked with the shoe and sports-gear-making company since 2013 on his Yezzy line of very expensive and popular sneakers.
Adidas makes 4 per cent to 8 per cent from its Yezzy products. The deal accounted for 1.5 billion of his net worth.
Bloomberg reports that Adidas ended the $247 million juicy deals due to offensive behaviour.
Pressure on Adidas to drop musician
Adidas caved in to pressure to drop the superstar rapper after a banner appeared over a Los Angeles highway saying, "Kanye was right about the Jews," followed by a group of racist whites giving salutes to the drivers.
On Tuesday, October 25, Adidas formally cut ties with West Kanye and broke its silence. Forbes reports that the move knocked him out of the billionaire's list.
Adidas said it does not tolerate anti-Semantic or any other hate speech.
With that gone, Kanye West is officially no longer a billionaire.
According to Forbes, without the Adidas deal, Kanye West is now worth $400 million.
Forbes said its estimates come from real estate, cash, his music catalogue and a 5 per cent stake in his ex-wife, Kim Kardashian's clothing line, Skims.
This pattern continued yearly, with Kanye complaining about our low numbers. For this year's valuation, He sent documents claiming his Adidas partnership alone was worth $4.3 billion.
On Monday, October 14, production company MRC said it would not air a completed documentary on the rapper and a talent agency, CAA, which signed him, dropped him.
But analysts said he can bounce back and relaunch Yezzy on his own and still make a success of the brand.
Kanye West moves to buy Twitter Rival, Parler after he was blocked by Twitter and Instagram
Legit.ng reported that US rapper Kanye West, who now refers to himself as Ye, has moved to buy the social media site Parler after Twitter and Instagram blocked him over anti-semantic speech.
Parler prides itself as a right-wing free, speech social media site and an alternative to Twitter.
The rapper announced on Monday, October 17, 2022, that he was acquiring the platform in a move that came days after he was stopped from posting on Meta's Instagram and Twitter.
Source: Legit.ng
