“I can say antisemitic sh-t, and Adidas cannot drop me,” said Kanye “Ye” West during his infamous Drink Champs podcast. In a textbook definition of “FAFO,” Adidas did drop Ye following his antisemitic comments. Thus ended a nine-year relationship between Ye, 45, and Adidas, and subsequently, it ended West’s status as a billionaire. Following the news of Adidas joining a growing list of brands kicking Kanye to the curb, Forbes reported that “the superstar rapper no longer has a place on the Forbes billionaires’ list now that his lucrative deal with Adidas is over.”
— StopAntisemitism (@StopAntisemites) October 20, 2022
Ye’s partnership with Adidas on his super expensive line of Yeezy sneakers accounted “for $1.5 billion of his net worth,” according to Forbes. “The $1.5 billion value of the Adidas deal was calculated off of a multiple of annual earnings. Based on interviews with industry experts, Forbes had viewed the royalties Ye received from Adidas to be similar to royalties from music catalogs or film residuals.” Without Adidas, Ye’s worth is an estimated $400 million – nothing to discount, but not enough to secure that billionaire status.
The remainder of West’s fortune comes from “real estate, cash, his music catalog, and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, SKIMS,” though Forbes reports that Ye hasn’t been involved in SKIMS since 2019.
Adidas becomes the latest brand to sever ties with Ye following his antisemitic comments. In September, Gap terminated its partnership with Ye over a public feud, but following Adidas’ decision, the chain sent out a statement condemning West’s remarks. “In September, Gap announced ending its Yeezy Gap partnership, Out former partner’s recent remarks and behavior further underscore why. We are taking immediate steps to remove Yeezy Gap products from our stores, and we have shut down yeezygap.com. Antisemitism, racism, and hate in any form are inexcusable and not tolerated in accordance with our values.”
Earlier in October, JP Morgan reportedly decided it wouldn’t work with West anymore. Balenciaga also called off its working relationship with Ye just weeks after he walked down the runway as part of their Paris Fashion Week show. Vogue announced that it has “no intention” of ever working with Ye again. MRC announced it was canning a completed documentary about Ye, and his talent agency, CAA, dropped him. Camille Vasquez — the lawyer who worked with Johnny Depp on his defamation case against his ex-wife Amber Heard — also reportedly dropped Ye after West reportedly hired her firm to represent his business.
Piers Morgan would ask Ye if he was “sorry” about tweeting about going “death con 3” on the Jewish community or any of the other comments he said. “No. Absolutely not,” he responded. However, later in the interview, Ye did say, “You know, I will say I’m sorry for the people that I hurt with the defcon, the confusion that I caused. I feel like I caused hurt and confusion. And I’m sorry for the families of the people that had nothing to do with the trauma that I had been through and that I use my platform where you say, ‘hurt people hurt people,’ and I was hurt.”