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‘Never deserved to be one’: Fans Troll Kanye West as He Loses His Billionaire Status, Net Worth Plunges To $400M After Adidas Backs Out From Deal

Kanye West is no stranger to the spotlight for his conflicting views and controversial statements regarding sensitive issues. His anti-semitic remarks, comments on George Floyd’s death, the ‘White Lives Matter’ fashion show, and others will probably lead to legal action. In addition, he got into much trouble for his constant and fiery social media activity and unapologetic behavior.

Kanye West
Kanye West

Also Read: “How much money are you worth? Why would I listen to you”: $1.3 Billion Rich Kanye West Branded “Shallow” After Absolutely Embarrassing Interview Host

As a result of the rapper’s antisemitic rhetoric, his lawyer Camille Vasquez recently dropped him. Earlier this week on Monday, CAA dropped Kanye West, Balenciaga also halted its partnership with him, and Vogue too served ties with the rapper.

Also, as of today, it is confirmed that Adidas and Kanye West have officially ended their partnership over his offensive and antisemitic remarks. The rapper-turned-fashion designer seems to be experiencing these backlashes due to his constant online feuds.

Adidas-Kanye West Partnership Officially Ends

It has been announced that Adidas has officially ended its partnership with Kanye West after he made some anti-Semitic remarks recently. Adidas is the latest company to cut ties with West and a decision that will negatively impact its bottom line, according to the German sportswear company.

Adidas ends partnership with Kanye West
Adidas ends partnership with the Ye

Brand Adidas said in a statement on Tuesday, 

“Adidas does not tolerate antisemitism and any other sort of hate speech,” adding, “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 repeated attempts to resolve the issue privately, Adidas placed the partnership under review earlier in October. Still, due to celebrity remarks and social media pressure to cut ties with the rapper, Adidas officially terminated this partnership.

West ignored Adidas’ “under review” announcement, and instead of being sorry, he retaliated by blaming them for stealing his work. Despite his hope in Johnny Depp‘s attorney, Camille Vasquez, he lost his best lawyer due to his antisemitic remarks.

How Adidas’ Decision Will Affect Kanye West?

Kanye West in his Paris fashion show
Kanye West

Following a “thorough review,” Adidas said Tuesday it would stop production of its Yeezy products and stop making payments to Ye and his companies immediately. The move is expected to cost the company 250 million euros ($246 million) in net income this year. The move will cost the company big, but West, even more so, removing him from the billionaire club immediately.

According to Forbes, Adidas’ $1.5 billion deal was calculated based on multiples of annual earnings. So the net worth of Kanye West without Adidas would be around $400 million now. Forbes reported that West’s fortune consists of real estate, cash, his music catalog, and a 5% stake in his ex-wife Kim Kardashian’s shapewear company.

Forbes stated West claimed that his Adidas partnership alone was worth $4.3 billion, but with that gone, Ye is no longer a billionaire.

Also Read: “This whole family needs to be canceled”: Kim Kardashian Attains Stratospheric Hypocrisy as She Dines With Ivanka Trump After Condemning Kanye West For Anti-Semitism

Kanye West Loses His Billionaire Status: Fans’ React

Fans troll Kanye West over his loss

In the wake of West’s official partnership loss with Adidas, his net worth has plummeted to $400 million, taking him off the Forbes billionaire list.

A Twitter handle, Pop Base tweeted today after Adidas decided to serve ties with West, which reads,

“Kanye West is no longer a billionaire after Adidas cut ties with him, Forbes reports. His loss of Adidas has caused his net worth to plummet to $400 million, and he is no longer on the Forbes billionaire list.”

Fans are starting to give mixed reactions to this tweet and have poured their opinions about Kanye West’s loss and reckless behavior after this news broke. Karma is said to be wicked, and many people think West is paying Karma back now. But some still think he is still more affluent and powerful than many other celebrities.

 

 

Adidas is currently on a growing list of companies that have cut ties with Ye, including Balenciaga, Vogue magazine, CAA, and others. Kanye West is facing a bittersweet symphony right now.

Also Read: ‘What a true queen’: Fans Hail Camille Vasquez After Johnny Depp Lawyer Reportedly Refused To Work For Kanye West Unless He Apologizes For Anti-Semitic Comments

Source: Twitter

Tulika Shreshthi
Tulika Shreshthi

Tulika Shreshthi is a professional content writer at Animated Times in an entertainment niche. She has years of experience in Content Management and SEO-based digital Content Writing. Also, she has a specialization in technical content writing. As an illustrator, she loves to draw something on her iPad while not writing professionally. She is passionate about the children's digital illustrations segment. Aside from illustrating, she also enjoys cooking and singing as her hobby.

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