Kanye West is no longer a billionaire after Adidas decided to end their clothing deal with him.
Kanye West Reportedly No Longer A Billionaire After Adidas Cuts Ties With The Rapper
The company had made it absolutely clear that the rapper’s deal was under review following the initial backlash to his ‘White Lives Matter’ tops. While that may have been the case, Kanye did not help himself with his comments when he promised to go ‘def con 3’ on Jewish people.
And as part of that process, he doubled down on his comments by making it clear that he was ‘ absolutely not’ sorry for his comments in an interview with Piers Morgan. With that being said, the company felt it had no alternative but to cut ties with the rapper.
In an official statement given on behalf of the company, 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.”
This has had a devastating impact on Kanye’s actual net worth. It is alleged that the deal with Adidas that was set to run out in 2026 was reportedly worth $1.5 billion. And given that the deal is no longer present, that has left Kanye’s net worth around $400 million.
In addition, since other brands such as Balenciaga and JP Morgan have also indicated that they have cut ties with him, Kanye could soon face a whole host of financial troubles.
The fans on social media felt that things were looking ominous for Kanye. A certain subset of people were of the view that this would only get worse going forward since the star showed no signs of toning down his comments. One person wrote: “He will be broke soon.”
Time will tell if there are any further ramifications for Kanye moving forward, but based on what we have seen so far, things are not looking good. If you liked reading this article, then check out our other features on the Daily Soap Dish. Please also visit The Over Timer for all of the latest exciting news on all of your favourite daytime.