Kanye West heads to a office in Calabasas for a meeting, The office building had several businesses including a law firm. 20 Jan 2022 Pictured: Kanye West heads to a office in Calabasas for a meeting

Kanye West Loses Billionaire Status As Brands Flee From His Anti-Semitism, See How Much He's Worth Now!

Home / News / Kanye West Loses Billionaire Status As Brands Flee From His Anti-Semitism, See How Much He's Worth Now!

By Favour Adegoke on October 26, 2022 at 3:00 AM EDT
Updated on October 26, 2022 at 12:25 PM EDT

Rapper Kanye West fought hard to be recognized as a billionaire, and now he's no longer one. After Adidas finally joined the list of businesses to terminate their partnerships with him, it cost both Ye and the brand millions of dollars. The termination comes after Ye's numerous controversies, especially his anti-semitic statements.

Forbes now claims that Ye's net worth is now in the range of $400 million, a critical fall from his previous valuation of $1.3 billion. His riches now stem from real estate, his music catalog, cash, and several investments. Asides from Adidas, big-name brands like Balenciaga and Vogue have also ended their partnerships with Ye.

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Despite the intense criticism from the public for his anti-Semitic and anti-Black comments, Ye refuses to be canceled. Earlier this year, the rapper revealed that he was prepared to end his partnerships with Adidas and Gap and run his Yeezy clothing line alone. He has maintained this sentiment and refused to see the negativity in his social media posts. 

Read on to find out more.

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Forbes Confirmed That Kanye West's No Longer A Billionaire

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Ye just lost his deal with Adidas, which has cost him dearly, as it accounted for over a billion dollars of his net worth. After Adidas released its statement, Forbes confirmed that the "Hurricane" rapper was no longer a billionaire. The report stated that the fall in his net worth was caused not just by the termination of his deal with Adidas but also by the deals with Gap and Balenciaga.

Ye is now reportedly worth around $400 million, which is a significant fall from his previous value of $1.3 billion, which included a majority of his public assets. The rapper's riches now stem from a few sources, including his music catalog, real estate, cash, and investments. Ye still has a 5% stake in ex-Kim Kardashian's Skims brand.

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Adidas Terminates Their Partnership With Kanye West

Kanye West leaving the gym in Los Angeles. 21 Oct 2022

For most of this year, Ye has gone from controversy to controversy, which has built public pressure on his business partners to end their relationships with him. Adidas was one of such partners, as their Yeezy sneaker line with the rapper provided an estimated 4% to 8% of their sales.

Despite the pressure, the clothing brand remained silent, only saying once that their partnership with Ye was "under review." The pressure escalated when the "Good Morning" rapper featured on the "Drink Champs" podcast and said, "I can say anti-Semitic sh*t, and Adidas can't drop me."

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Finally, the company released a statement confirming they'd ended their partnership with Ye. It read, "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."

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The Rapper Has Lost Several Partnerships

Kanye West

Forbes confirmed that the fall in Ye's net worth stems from the numerous business deals he's lost due to his controversial "White Lives Matter" shirts, comments on George Floyd's death, and anti-Semitic tweets. Earlier this week, Balenciaga confirmed in a statement that it had ended its relationship with Ye.

Fashion magazine Vogue also confirmed that the publication and its famous editor-in-chief Anna Wintour had cut ties with Ye in the wake of his controversies. Top bank, JP Morgan Chase, also confirmed that they're closing Ye's accounts with them and have given him notice to move his accounts to another financial institution.

Kanye West Refuses To Be Canceled

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Despite the intense public scrutiny and criticism and the loss of so many business relationships, Ye refuses to be canceled and doesn't plan to stop the controversial comments. During a phone interview with Bloomberg in September, the Yeezy clothing founder said he's prepared to "go it alone" and stop working with Adidas and Gap. 

Ye said, "No one should be held in that position where people can steal from them and say, 'we're just paying you to shut up.' Now it's time for Ye to make the new industry. No more companies standing in between me and the audience."

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The "Gold Digger" also recently spoke to the paparazzi about the criticism of his recent controversies. He told TMZ, "I ain't losing no money. The day I was taken off the Balenciaga site, that was one of the most freeing days. We here, baby, we ain't going nowhere."

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