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Kanye West recently lost his billionaire status after Adidas ended its partnership with him amid growing criticism for his anti-Semitic outbursts.
Approximately $1.5 billion of Ye's net worth was a result of his relationship with Adidas, and the end of the deal has resulted in a decrease in the same. The rest of Ye's earnings are attributed to his music catalog, real estate holdings, liquid cash, and a 5% stake in Skims, his ex-wife Kim Kardashian's shapewear brand, according to Forbes.
Ye's net worth is now $400 million. According to Forbes, Adidas' long-standing partnership with Ye has come to an end, with the company losing nearly $250 million in overall profits by removing him in the fourth quarter of this year.
Kanye West has now lost his billionaire status
Kanye West is no longer a billionaire since his partnership with a few companies ended recently. According to Forbes, Ye's net worth was around $2 billion, with an additional $220 million from his Adidas deal.
Ye's net worth should have been less than $1 billion after his partnership with Adidas ended, but it has now dropped to $400 million. Adidas stated in a statement that it does not tolerate anti-Semitism or any other form of hate speech. They continued and said:
“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.”
Kanye West recently told NewsNation's Chris Cuomo that the Jewish underground media mafia was targeting him by spreading false information about his wealth. They never referred to him as a billionaire, tycoon, visionary, or investor, according to Ye.
The rapper was also known to contact Forbes every year to express his dissatisfaction with his valuations. According to a recent story on its website, he texted them the following in 2020:
"It’s $3.3 billion since no one at Forbes knows how to count."
Although Forbes claimed Ye’s net worth to be $2 billion, Bloomberg mentioned it to be $6.6 billion in 2021. The Post also acquired financial documents suggesting that his deal with Adidas was worth more than $3.7 billion.
Adidas’ announcement was a shock to everyone since Ye recently claimed that Adidas will not end the deal. Ye had a ten-year contract with the company. His contract was "under review" when the backlash began, and it was eventually terminated.
Balenciaga also announced the end of their collaboration with Kanye West a few days ago, though they did not specify why. Kanye West and Balenciaga were linked for a long time and they even collaborated on a Yeezy Gap Engineered by Balenciaga Collection.
