Due to German multinational giant, Adidas severing its relationship with American musician Kanye West, Forbes, an American business journal, has revealed that West is no longer a billionaire.
On Tuesday, this was declared in a formal statement posted on the magazine website. After being fired by Adidas for antisemitism, Kanye is no longer listed among the world’s billionaires, according to Forbes. Kanye has posted a number of anti-semitic tirades on his social media accounts in recent weeks.
He said the Jews own Hollywood and threatened to “go Defcon 3” on the Jews, presumably alluding to the military readiness state. Forbes also stated that without the multi-year Adidas contract, which was valued at $1.5 billion, he would only be worth $400 million.
What’s left of Kanye’s financial empire, according to the report, is his real estate, cash, music library, and a 5% ownership in Skims, his ex-wife Kim Kardashian’s shapewear company. Remember that Adidas announced in a statement that it had done a “thorough review” and would immediately halt the manufacture of its line of Yeezy items.
“Adidas rejects all forms of hate speech, including antisemitism. The firm’s values of diversity and inclusiveness, mutual respect, and fairness have been violated by Ye’s recent words and actions, which have been disrespectful, hateful, and dangerous, the company said in a press release.
“Following careful consideration, the company has decided to immediately sever its relationship with Ye, halt the creation of goods bearing the Yeezy brand, and suspend all payments to Ye and his businesses. Adidas will immediately discontinue operating its Adidas Yeezy business.
Top companies like Balenciaga, MRC, and Creative Artists Agency have cut connections with Kanye West as a result of his anti-Semitic rants (CAA).
