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Kanye West No Longer a Billionaire – Forbes

American business magazine, Forbes has disclosed that American rapper, Kanye West is no longer a billionaire after German multinational corporation, Adidas cut ties with him.

This was announced in an official statement on the magazine’s website.

According to Forbes, Kanye no longer has a place on its billionaire’s list after being dropped by Adidas for antisemitism.

In recent weeks, Kanye has gone on several anti-semitic rants across his social media handles.
He had alleged that the Jews control Hollywood and vowed to “go Defcon 3” on the Jewish people, apparently referring to the military readiness condition.

Forbes also added the multi-year Adidas deal was valued at $1.5 billion, without which he’s worth just $400 million.

It said what remains of Kanye financial empire is his real estate, cash, music catalogue, and a five percent stake in Skims, his ex-wife Kim Kardashian’s shapewear firm.

Recall in a statement released by Adidas, said it conducted a “thorough review” and would immediately stop production of its line of Yeezy products.

“Adidas does not tolerate antisemitism 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 press release.

“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.”

Among the top brands that have also severed ties with Kanye West in the wake of his anti-semitic remarks are Balenciaga, MRC, and Creative Artists Agency (CAA).

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