Bye-bye, billionaire status. Kanye West‘s net worth has reportedly dropped significantly since losing his Adidas deal amid his anti-Semitic remarks.
The collaboration with Adidas and the rapper’s Yeezy brand was worth about $1.5 billion, Forbes estimates. Without the deal, West’s net worth has fallen to $400 million.
That sum comes “from real estate, cash, his music catalog, and a 5 percent stake in ex-wife Kim Kardashian’s shapewear firm, Skims,” Forbes reported on Tuesday, October 25.
West, 45, felt his net worth was undervalued by the outlet. When he first made the billionaires list in 2020, with an estimated $1 billion fortune, he texted the outlet that he was worth $3.3 billion. The Atlanta native also sent documents earlier this year claiming his Adidas partnership alone was worth $4.3 billion, though Forbes only estimated his net worth to be about $2 billion after reviewing information from other insiders and interviewing industry experts.
Kardashian, 42, and West split in February 2021 when the SKKN by Kim founder filed for divorce. They share four children, North, 9, Saint, 6, Chicago, 4, and Psalm, 3. A judge declared them legally single in March as they continue to work on the details of their divorce.
In addition to West owning a slice of Skims, Kardashian has a piece of Yeezy. She said in 2018 that she turned down an offer for $1 million to promote a company that is recognized for knocking off Yeezy designs, and her then-husband thanked her with a business deal.
“He happened to be recording out of town and I get an envelope delivered to the door. I open the envelope and it is a million-dollar check and a note saying, ‘Thank you for always supporting me and not posting,'” Kardashian said at the time on the “Pretty Big Deal” podcast. “In the rest of the envelope, it was a contract to be an owner of Yeezy, to have my percentage.”
Kardashian did not reference West’s comments directly but spoke out against anti-Semitism on Monday, October 24. “Hate speech is never OK or excusable,” the Kardashians star tweeted. “I stand together with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end.”
Adidas is the latest brand to drop the “Power” rapper as he continues to defend his anti-Semitic remarks.
“Adidas does not tolerate anti-Semitism 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 on Tuesday. “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 artist first made headlines on October 8 after tweeting, “I’m a bit sleepy tonight but when I wake up I’m going death con 3 [sic] On JEWISH PEOPLE. The funny thing is I actually can’t be Anti Semitic because black people are actually Jew also You guys have toyed with me and tried to black ball anyone whoever opposes your agenda.”
He appeared on Piers Morgan Uncensored to apologize on October 19. “I will say I’m sorry for the people that I hurt with the ‘death con’ [comments],” West said but added that he “absolutely” did not regret the comments.
Balenciaga and Hollywood agency CAA (Creative Artists Agency) also cut ties with West after his repeated anti-Semitic remarks.
