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.
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.
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?
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.
Kanye West Loses His Billionaire Status: Fans’ React
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.”
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. pic.twitter.com/8SzyQqJVjC
— Pop Base (@PopBase) October 25, 2022
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.
Hey Siri, play Karma by Taylor Swift pic.twitter.com/DIAaNIzbh1
— Raf Flores #BlackLivesMatter (@Rafael_Fl0rez) October 25, 2022
This is straight cap lol, look at how the media operates they’re trying to get rid of him look at how they treat the negro after he speaks out against his masters, Kanye will be protected he is a man of faith Hollywood and the industry will never ever do anything to stop him
— Confessions (@Kidfromqueens1) October 25, 2022
Poor guy.. How can he live off 400mill
— NIRINGIYE (@rogthatsinatra) October 25, 2022
Karma's gonna track u down, step by step from town to town 😭😭
— Nishant (@Nimi717) October 25, 2022
The billionaire income has to be consistent to remain a billionaire. The contract with Adidas was an asset that kept his net worth stable.
— Alex•🇯🇲🇨🇦 (@PLATINUMINAJJ) October 25, 2022
If you would have told me kanye west would be one of the only celebrities that actually got effected by "cancel culture " I would have called you a liar .
No amount of internet hate is the same as losing a bag
— Megan's PR director (@1Thatsallfolks) October 25, 2022
Notice how his life is getting worse after collabing with @iamcardib ??????
— Peters121 (@pillow1215) October 25, 2022
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.