Adidas Deal: Kanye West Loses Billionaire Status – Forbes

Due to Adidas, a German multinational brand, cutting connections with American musician Kanye West, he is no longer a billionaire, according to the American business magazine Forbes.

On Tuesday, the magazine’s website posted an official statement informing readers of this.

Kanye was removed from Adidas’ antisemitic policy list, according to Forbes, and is no longer listed among the world’s billionaires.

Kanye has recently posted a number of anti-semitic tirades on his social media accounts.

He said the Jews own Hollywood and threatened to “go Defcon 3” on the Jews, presumably alluding to the military readiness state.

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Forbes also stated that without the multi-year Adidas contract, which was valued at $1.5 billion, his worth would only be $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.

Recall in a statement released by Adidas, said it conducted a “thorough review” and would immediately stop production of its line of Yeezy products.

“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,” the company said in a press release.

“After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products, and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.”

Top companies like Balenciaga, MRC, and Creative Artists Agency have cut connections with Kanye West as a result of his anti-Semitic rants (CAA).