<\/p>\nForbes now estimates that the producer and designer is worth around $400 million \u2014 still a sizable sum, but far less than his height of $2 billion.<\/p>\n
According to the publication, his remaining wealth comes from his attractive real estate acquisitions, his popular music catalogue, a 5 percent stake in his ex Kim Kardashian’s Skims company \u2014 which he reportedly hasn’t been involved with since 2019 \u2014 and his cash holdings.\u00a0<\/p>\n
The move from Adidas comes days after Kanye claimed on a podcast that the sneaker giant ‘can’t drop him’, despite saying ‘anti-Semitic things’.<\/p>\n
Adidas’ share price dropped more than 50 percent over the past six months, and is expected to plunge even further in the wake of the announcement.<\/p>\n
Vanished fortune: Forbes determined that West is now only worth $400 million after losing his deals with Adidas and other companies, down from his height of $2 billion<\/p>\n
West has had several high-flying partnerships dropped in the aftermath of making a series of anti-Semitic outbursts.<\/p>\n
The father-of-four’s wealth could plummet to below $1billion after the termination with the brand, which comes after several other lucrative deals have been dropped.\u00a0<\/p>\n
\u00a0His deal with Balenciaga and Gap have fallen through, and the rapper was yesterday dropped by talent agency CAA.<\/p>\n
In a statement GAP said: ‘Anti-Semitism, racism and hate in any form are inexcusable and not tolerated in accordance with our values.<\/p>\n
\u00a0‘On behalf of our customers, employees and shareholders, we are partnering with organizations that combat hate and discrimination.’<\/p>\n
His Twitter and Instagram accounts were restricted, with the social media platforms saying they removed his posts that online users condemned as anti-Semitic.<\/p>\n
In a statement Adidas said: ‘Adidas does not tolerate antisemitism and any other sort of hate speech.<\/p>\n
‘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.’<\/p>\n
\u00a0The company also claimed that cutting ties with the rapper is likely to have a ‘negative impact of up to \u20ac250 million on the company’s net income in 2022’.<\/p>\n
The partnership began in 2013, after he let a collaboration with Nike, and was expected to be a ten-year-long production.<\/p>\n
Hubris: Adidas and other brands dropped Ye after he made repeated anti-Semitic statements, before taunting Adidas and claiming it couldn’t split from him; seen in 2015\u00a0<\/p>\n
Before being dumped by the brand Kanye had already begun publicly sparring with Adidas executives, accusing them of ‘stealing’ his ideas.\u00a0<\/p>\n
West owns the Yeezy brand but Adidas pay him an annual royalty fee to sell the products.<\/p>\n
Adidas, whose founder Adi Dassler belonged to the Nazi Party, found themselves coming under increasing pressure to drop Kanye after several anti-Semitic comments.<\/p>\n
Experts have also claimed that the resale market for Yeezy’s will explode because they will not be produced in mass quantities anymore.<\/p>\n
TMZ claimed that the resale market would skyrocket, with companies clinging onto the stock of Yeezy’s to see if Adidas would part ways with the singer.<\/p>\n
Tamar Andrews, an educational consultant for Kanye, officially resigned earlier this month following the anti-Semitic outbursts.<\/p>\n
In a statement to The Hollywood Reporter, the president of Temple Isaiah of LA, where Andrews is a director, said: ‘Dr. Andrews immediately resigned from Donda Academy following Ye West’s tweet.<\/p>\n
‘Her last day was October 11, 2022 as she felt she could no longer support the organization.’<\/p>\n
Speaking out: Human rights campaigners have called out the German firm for its continued silence over comments by Kanye that have made him more and more isolated<\/p>\n
New friends: Right-wing pundit Candace Owens has defended Kanye, saying: ‘Corporations can dissociate from Ye but they will not steal from him’<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Owners of ‘s Yeezy shoes appeared to be considering their options after online searches for the sneakers soared just a day after Adidas announced it was cutting ties with the rapper. In the wake of the German athletic brand’s decision to due to West’s repeated anti-Semitic remarks, searches for the terms ‘sell Yeezy’ skyrocketed by […]<\/p>\n","protected":false},"author":16467,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[5135],"tags":[5078],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/posts\/76081"}],"collection":[{"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/users\/16467"}],"replies":[{"embeddable":true,"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/comments?post=76081"}],"version-history":[{"count":1,"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/posts\/76081\/revisions"}],"predecessor-version":[{"id":76082,"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/posts\/76081\/revisions\/76082"}],"wp:attachment":[{"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/media?parent=76081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/categories?post=76081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.announcement.news\/wp-json\/wp\/v2\/tags?post=76081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}