Kanye West no longer a billionaire after Adidas cuts ties
- Adidas ends its partnership with Kanye West after a series of anti-Semitic outbursts by the controversial rapper
- German sportswear giant’s move knocked the musician off the Forbes list of the world’s billionaires
Losing his Adidas partnership proved to be a massive kick to Kanye West’s net worth.
West is no longer a billionaire after Adidas ended its relationship with the rapper over his repeated antisemitic comments, Forbes reported on Tuesday.
Forbes valued West’s deal with the German apparel company at US$1.5 billion, and says his net worth without it plummets to US$400 million.
Adidas announced its decision to cut ties with West, who goes by the name Ye, on Tuesday, saying production on the rapper’s “Yeezy” line of shoes and clothing had been halted “immediately”.
“Adidas does not tolerate anti-Semitism and any other sort of hate speech,” Adidas said. “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.”