Ye, No Longer A Billionaire!
Ye, the megastar rapper also known as Kanye West, no longer has a place on the Forbes Billionaire’s list now that he has parted ways with Adidas.
Just days ago, the rapper-cum-fashion entrepreneur challenged Adidas to drop him following a weeks-long barrage of antisemitic remarks on social media and other national media appearances.
In a recent interview on the Drink Champs podcast, the rapper-cum-fashion entrepreneur challenged Adidas to drop him following a weeks-long barrage of antisemitic remarks on social media and other media appearances.
“I can say antisemitic s*** and Adidas cannot drop me,” said the rapper on the Drink Champs podcast earlier this month. West, who has worked with Adidas since 2013 on his Yeezy line of super-expensive and popular sneakers showed no sign of concern or fear that the brand could sever business ties with him.
Adidas’s deal for West accounts for $1.5 billion of his net worth, while the German shoe brand gets an estimated 4-8% of its sales from Yeezy products.
Further pressure mounted on Adidas to act after an image of a banner was displayed over a Los Angeles highway overpass, reading “Kanye was right about the Jews”.
On Tuesday, October 25—Adidas broke its silence and officially ended the relationship, knocking west off the billionaire ranks.
According to Forbes with the current situation with Adidas, “Ye is worth $400 million. The remainder of Ye’s fortune, Forbes estimates, comes from real estate, cash, his music catalogue and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims.”
Forbes also wrote – “Losing Adidas was the final nail in Ye’s net-worth coffin. Gap GPS +1.1% terminated its Yeezy partnership in September. Earlier this month, JPMorgan reportedly unbanked Ye. French fashion house Balenciaga nixed their relationship with Ye on October 21, just weeks after he walked their runway at Paris Fashion Week.”
Is this the end of the road for Ye? or will this also turn out to be just another one of his many new beginnings? Judging from history, the rapper has proved hard to dismiss. Many believe his latest moves are well-calculated.
Is there more Ye Magic to come? Time will tell.
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