Kanye West is no longer a billionaire, according to Forbes Magazine after Adidas cut ties with the rapper following his antisemitic comments. Other brands including Foot Locker and Gap have also said they will no longer stock his Yeezy brand in their stores.
West, who also goes by the name Ye made the comments that he would go “death con 3 On JEWISH PEOPLE” on Twitter, reiterating on the Drink Champs podcast that he “can say antisemitic s**t and Adidas cannot drop me.”
Adidas have said in a statement that they do “not tolerate antisemitism and any other sort of hate speech”. Their partnership with West’s company Yeezy was estimated to be worth billions, making it one of West’s largest sources of income.
So, is Kanye West still a billionaire and what is his net worth? Here’s everything you need to know.
Is Kanye West a billionaire?
According to Forbes Magazine, West is no longer a billionaire after Adidas cut ties with the rapper. Ye had worked with Adidas since 2013, with his brand Yeezy being responsible for an estimated 4% to 8% of Adidas’ sales.
Ye’s deal with Adidas is reported to have been worth $1.5 billion of his overall income, Forbes Magazine have reported that with that deal gone, West is no longer on their billionaire list.
What is Kanye West’s net worth?
Forbes have estimated that without the Adidas deal, Ye’s net worth is $400 million, with his income coming from his estates, music catalogue and 5% stake in ex-wife Kim Kardashian’s shapewear brand, Skims.
The magazine has removed Ye from their list of billionaires and shared that the rapper has always contested their reports of his wealth. In 2020 when he was first added to the list with a net worth of £1 billion, he is said to have texted the publication saying “It’s not a billion,” adding: “It’s $3.3 billion since no one at Forbes knows how to count.”
This apparently has happened every year since, with the rapper complaining that Forbes is underselling his wealth.
What have Adidas said?
Following West’s use of White Lives Matter at Paris Fashion Week, Adidas had placed their partnership on hold, but the German sportswear giant was slow to address his antisemitic comments.
On Tuesday 25 October Adidas released a statement, they said: “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.” Adding that they would take a “short-term” loss of €250 million and end production of products under West’s Yeezy brand.
Adidas have been challenged on how long they took to address West’s comments, with Adidas Director of Trade Marketing Sarah Camhi writing onLinkedIn:“It’s been 14 days since Kanye started spewing anti-Semitic rhetoric and adidas has remained quiet.”
Camhi added: “As a member of the Jewish community, I can no longer stay silent on behalf of the brand that employs me. Not saying anything, is saying everything.”
It’s not just Adidas, however, with West also being dropped from Balenciaga and other brands including Foot Locker and Gap stating they will no longer stock his Yeezy products in their stores.