Culture

Forbes Says Kanye West Is No Longer A Billionaire After Being Dropped By Adidas

After being dropped from Adidas on Tuesday, Kanye West has lost his billionaire status, as the partnership was $1.5 billion of his net worth.

Ye is a billionaire no more. After his partnership with Adidas was severed on Tuesday (October 25) for offensive and antisemitic remarks made on social media and recent media appearances, Forbes has reported that the Donda 2 artist has lost his billionaire status. The sportswear company joins other brands and influencers that have since denounced Ye, including Creative Artists Agency (CAA), MRC Entertainment, Vogue editor-in-chief Anna Wintour, and Ye’s former wife Kim Kardashian.

According to the publication, Adidas received an estimated 4% to 8% of all sales from Yeezy products, but the artist formerly known as Kanye West made bank during the partnership, as the deal accounted for $1.5 billion of his net worth.

While on a now-pulled Drink Champs episode, Ye asserted that despite his controversial statements about Jewish people, Adidas wouldn’t end their deal.

“I can say anti-Semitic s*** and Adidas cannot drop me,” he said in the episode.

On Tuesday, Adidas published a remark of their own, declaring that their relationship with Ye has ended, weeks after announcing that the partnership was “under review.” The termination will impact Adidas’ 2022 net income by €250 million ($246 million), although the company said the decline will be short-lived.

“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,” the company announced in a press release. “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.”

Jaelani Turner-Williams

Jaelani Turner-Williams is a contributing news writer for Okayplayer with bylines at Billboard, MTV News, NYLON, Recording Academy and more. Read her mind on Twitter at @hernameisjae.

Share
Published by
Jaelani Turner-Williams

Recent Posts

Grammy Predictions 2023: Our Guesses at Who’ll Win the Big Four (And Other Categories)

Will Beyoncé win over Adele? Will Steve Lacy have his breakout moment? Will Kendrick have… Read More

February 2, 2023

John Singleton Left Behind a 2Pac Painting From ‘Baby Boy’ Worth $75K

Featured in 2001 John Singleton-directed drama film Baby Boy, a mural painting of the late… Read More

February 2, 2023

‘Fast X,’ ‘The Flash’ and ‘Transformers’ Trailers to Air During Super Bowl

Trailers for forthcoming action films will air during the Super Bowl LVII, including Ant-Man and… Read More

February 2, 2023

After Reaching 75 Billion Streams on Spotify, Drake Proposes That Artists ‘Should Get Bonuses’

Drake, Her Loss artist and recent Apollo Theater headliner, said that artists 'should get bonuses'… Read More

February 2, 2023

Jon Stewart Slams Media For ‘Salivating’ Over Tyre Nichols Footage

Jon Stewart and writer/comedian Kasaun Wilson recently discussed how the death of Tyre Nichols has… Read More

February 2, 2023

Jordan Peele Talks About Why He Didn’t Pursue Live-Action ‘Akira’ Remake

While on the Happy Sad Confused podcast, Jordan Peele reflected on his decision not to… Read More

February 2, 2023