Kanye West’s net worth plummets after Adidas cancels partnership

By JNS

Kanye West’s net worth dropped from $2 billion to $400 million after Adidas ended its “Yeezy” brand partnership with the rapper on Tuesday, according to a report from Forbes.

Earlier this month, West—who now goes by “Ye”— bragged that “Adidas cannot drop me” in a podcast interview.

According to Forbes, his deal with Adidas made up $1.5 billion of his net worth, with the German sporting goods giant getting about 4% to 8% of its sales from 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 statement.

“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,” the statement continued.

West’s Twitter and Instagram accounts have been restricted due to his offensive outbursts, and his antisemitic posts were removed.

Other notable companies that have cut ties with West over the controversy, include Gap, JPMorgan Chase Bank, the Creative Artists Agency, the Balenciaga fashion house and Vogue magazine.

World Israel News staff contributed to this report.