Kanye West Loses Billionaire Status after Adidas Cut Ties

An American rapper, record producer, and fashion designer, Kanye Omari West, popularly known as Kanye West or Ye, has lost his billionaire status after a German multinational corporation, Adidas cut ties with him.

An American business magazine, Forbes, announced this in a publication on Tuesday.

Forbes said Kanye no longer has a place on its billionaires’ list now that his lucrative deal with Adidas is over.

Adidas had terminated its deal with the superstar rapper and fashion designer over antisemitism.

In recent weeks, West has gone on several anti-semitic rants across his social media handles.

The rapper, who in a post deleted by Twitter, shared a screenshot of a text exchange between himself and Diddy, in which allegedly appeared to show West claiming that Combs was controlled by Jewish people. “Jesus is Jew’. I’m a bit sleepy tonight but when I wake up I’m going death con 3 On JEWISH PEOPLE.”

His antisemitic comments, however, drew backlash from Jewish celebrities and politicians, as the American Jewish Committee (AJC), in a statement immediately called out West’s language for perpetuating “antisemitic tropes like greed and control.”

The rhetorics, in no time, mounted public pressure on the companies with whom the rapper has business dealings.

Among the latest brands to sever ties with West is Adidas which was said to have conducted a “thorough review” and would immediately stop production of its line of Yeezy products.

Kanye’s multi-year Adidas deal was valued at $1.5 billion, without which he’s worth just $400 million, while the remains of his financial empire is his real estate, cash, music catalogue, and a five percent stake in Skims, his ex-wife Kim Kardashian’s shapewear firm.