Kanye 'Ye' West ‘lost $2 billion in one day’ after Adidas and GAP cut ties and ‘uninvited' Skechers visit

There’s perhaps no one on the planet who can say they are having a week like Kanye West.

The 45-year-old artist, who also goes by the name Ye, has been on the receiving end of what seems like never-ending backlash to his anti-semetic comments and remarks that have struck a lawsuit from George Floyd and his family.

The fallout has meant West has lost partnership deals with leading fashion brands such as Adidas, GAP, Balenciaga, Vogue, and even seen his social media access limited.

In addition to his crumbling empire, Skechers have said that West showed up uninvited to the company’s corporate offices stateside and had to be escorted from the premises after engaging in unauthorised filming.

The controversial star's Madame Tussauds wax figure has also been removed from public view after his remarks.

But after a brief hiatus on Instagram, Kanye returned this morning (October 27) in an apparent attempt to make light of his situation.

He posted a meme which said “Ye has reportedly cut ties with Kanye West’ a post that references the host of companies dropping their affiliations with the artist.

In a separate post, he added that he had ‘lost 2 billion dollars in one day’ due to the backlash he is facing.

According to the BBC, Skechers released a statement that read: "We condemn his recent divisive remarks and do not tolerate antisemitism or any other form of hate speech.

“We again stress that West showed up unannounced and uninvited."

The news broke soon after Adidas announced it was also cutting ties with Ye and stopping production on Yeezy brand products - a move which has reportedly cost Adidas more than $250 million.

West's anti-semetic remarks relate to comments he made against Jewish buisiness owners in the US, particularly those in the music industry.

He also incorrectly stated that George Floyd died from a fentanyl overdose and not from the knee pressed on his knee by a law enforcement officer.

A statement from Adidas read: “Adidas does not tolerate antisemitism 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.

“This is expected to have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter.”