Get an insight into “Why Is Kanye West No Longer A Billionaire?” The fans didn’t find it strange to witness Kanye West snapping and having spectacular outbursts. However, after divorcing his ex-wife Kim Kardashian, with whom he had four children, Kanye West, now known as Ye, ruined his career by expressing dubious beliefs and making anti-Semitic comments.
Large, high-end fashion brands like Gap, Vogue, Balenciaga, and other well-known companies are opposing Kanye by severing their ties to the musician. Corporate partners of Kanye are no longer involved with him in any way.
On the other hand, Kanye’s last ray of hope was his Adidas deal that he secured back in 2013 and the rapper even challenged the sportswear brand on the 16th October episode of Drink Champs Podcast. During the podcast session, he claimed “I can say antisemitic shit, and Adidas can’t drop me”.
"If an antisemitic rant ends with the words 'we’re not allowed to say anything about Jewish people' and then results in some form of accountability, the ranter can say that they were right all along."https://t.co/BPv63F6j0G
— Emily ?️ Tamkin (@emilyctamkin) November 4, 2022
However, this challenge did cost him his billionaire status. Adidas has removed itself from Kanye West’s partnership that came into “immediate effect” after the announcement. This was a result of Kanye’s anti-Semitic comments that surfaced when VICE released unaired footage from his famous interview with Tucker Carlson on 11th October 2022.
So, is Kanye West still a billionaire? Or did he lose his fortune? A lot has happened since then and you are up for some juicy details.
Why Is Kanye West No Longer A Billionaire?
The premium fashion houses already ensured that they are in no way connected with Kanye west. But when Adidas decided to stand up against Kanye, it led to the end of his career. Kanye may be a rapper but he is heavily invested in the fashion industry.
In the recent controversy that Kanye led in the Adidas Paris fashion show by introducing “White Lives Matter”, he wore a similar outfit giving out the same slogan that led to dramatic reactions.
After that, Adidas and Ye’s partnership was under review. Then his recent anti-Semitic opinions totally made the situation more critical.
Ye had been working closely with Adidas since 2013 to make his super-expensive and popular sneakers line, Yeezy exclusively available to the crowd. As a matter of fact, Adidas earns around 4% to 8% from the sales of Yeezy products. But it was Kanye who benefitted from a huge deal that resulted to make Kanye’s $1.5 billion net worth.
However, as the anti-Semitic comments started picking up more attention, the pressure grew on Adidas. A banner was seen over the Los Angeles highway reading “Kanye was right about the Jews” along with white supremacists showing Nazi salutes.
'In the chat rooms on Discord and Reddit where sneakerheads gather, a debate is raging about what, exactly, the fall of Ye, as Mr. West is now known, means for the future of what was called “an alternative asset class,' writes @VVFriedman. https://t.co/eExtm8LgHt
— Ravi Mattu (@ravmattu) November 1, 2022
On Tuesday, Adidas released a statement that it “does not tolerate antisemitism and any other sort of hate speech” and Kanye comments in the recent past are deemed to be “unacceptable, hateful and dangerous.” It violated the “values of diversity and inclusion, mutual respect and fairness”.
Hence, the brand is no longer having any sort of connection to Kanye and the production of the famous Yeezy has stopped. Without Adidas, Kanye West’s net worth has dropped to $400 million which is a $600 million loss.
As a result, Kanye West is no longer a billionaire and now has a millionaire status.
Kanye West Anti-Semitic Remarks
The most influential figures have called out Kanye for his comments that are hurting the sentiments of people. Ye tweeted on 9th October that he wanted to go “death con 3” on Jewish people. To further explain his comment, he claimed that the statement is not anti-Semitic because “black people are actually Jew[s] also”.
Naturally, the social media giants just blocked Ye’s accounts. But o 11th October VICE’s “Motherboard” released an unseen clip from the famous Tucker Clarson interview, the video revealed certain disturbing anti-Semitic details.
Fascinating, frightening deep dive by Vanessa Friedman into the impact of Kanye West's meltdown on the sneakerverse https://t.co/yeZuVxSedp
— Jodi Rudoren (@rudoren) November 2, 2022
He stated in the interview that “Jew” in connection to “the 12 lost tribes of Judah … who the people known as the race Black really are”. He states that the main reason behind Planned Parenthood was to “control the Jew population”.
There was no base for these claims and Ye landed in huge problems. His anti-Semitic comments continued even in his interviews with Chris Cuomo and Piers Morgan. Kanye now has nowhere to escape.
adidas executives took 2 minutes on a phone call to decide on cutting ties with @KanyeWest ? pic.twitter.com/6l4HZnlZHj
— Nice Kicks (@nicekicks) November 2, 2022
Without a doubt, Kanye West lost his billionaire status and he won’t be regaining it back anytime soon. If the anti-Semitic remarks continue, he will face bigger problems. We hope Kanye realizes his mistakes and moves past this unforgettable situation.
Last Line: Forbes Comment
Forbes says Ye’s feud with corporate partners cost him his billionaire title. Forbes, a renowned wealth tracker, pulled Ye from its billionaire list on Tuesday. The Adidas transaction was projected to be worth $1.5 billion, but Forbes now puts it at $400 million.
