Companies drop the rapper
Kanye West loses billionaire status
Kanye West falls and falls. After several companies ended their collaboration with the rapper because of anti-Semitic statements, he may also have lost his status as a billionaire.
Kanye West is out of control. After anti-Semitic statements, many companies turned away from him.
The ice was definitely too thin for Kanye West (45): After anti-Semitic statements, large companies such as Adidas and Balenciaga ended their collaboration with the controversial rapper. This should also have a financial impact on Kim Kardashian’s (42) ex-husband. The US business magazine “Forbes” officially removes him from the list of billionaires in the world.
The reason for this is the recent termination of the contract between Adidas and Kanye West. Kanye West actually thought that the German sporting goods manufacturer could not take this step: “I can say anti-Semitic slogans and Adidas can’t let me fall,” he said at the beginning of the month on the “Drink Champs” podcast. After an anti-Semitic post on the social network Twitter and the subsequent blocking, Adidas also pulled the plug.
1.5 billion from mega deal
According to “Forbes”, the end of the cooperation is financially painful for the sporting goods manufacturer – according to the investment bank Cowen, articles from the Yeezy line with Kanye West account for four to eight percent of sales. The step should be even more serious for the musician: 1.5 billion of his net worth comes from the mega deal.
Without the deal, his fortune is estimated at 400 million, writes the US business magazine. That includes real estate, cash, his music catalog and his 5 percent interest in his ex-wife Kim Kardashian’s clothing company, Skims. However, it is not really clear whether West still owns this stake.
Calculating fortunes didn’t sit well with West
West may not like being removed from Forbes’ list of billionaires. He has commented on previous reports that put his fortune at $1 billion. “It’s not a billion,” he wrote to the magazine in 2020. “It’s $3.3 billion because nobody at Forbes knows how to count.” Even in the years that followed, he did not hold back with his criticism. Earlier this year, he sent documents to journalists proving that the Adidas collaboration was worth $4.3 billion.
Not only Adidas and Balenciaga have ended their collaboration with Kanye West. The fashion company Gap pulled the plug on the cooperation in September, and the bank JP Morgan also reportedly terminated the bank connection at the beginning of the month. The production company MRC also announced that it would not broadcast the finished documentary about the musician, and the talent agency CAA, with which West is under contract, also parted ways with the musician. (imh)