American rapper, Kanye West aka ‘Ye’ Is No More Billionaire… His net worth has reportedly dropped from $2 billion (£1.3billion) to $400million (£348million) after Adidas Cuts Yeezy’s deal.
According to Forbes magazine, “Ye is no longer a billionaire” after Adidas terminated their contract with the rapper and entrepreneur today (October 25) over his anti-semitic comments.
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The deal was said to have a value of $1.5billion (£1.31billion) but now that the partnership has ended, Ye is worth $400million. Forbes estimates that the remainder of his fortune comes from his music catalog, cash, real estate, and a 5 percent stake in ex-wife Kim Kardashian’s brand, Skims.
“I can say antisemitic s—- and Adidas cannot drop me,” earlier this month, said the rapper, on the Drink Champs podcast. Ye, who had worked with Adidas since 2013 on his Yeezy line of super-expensive, super-popular sneakers, thought he was untouchable. After all, Adidas gets an estimated 4% to 8% of its sales from Yeezy products, according to investment bank Cowen. For Ye, it was an even bigger deal, accounting for $1.5 billion of his net worth.
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Now Kanye West Aka ‘Ye’ Is No More Billionaire… Net Worth Drops To $400M After Adidas Cuts Yeezy deal