Yeezy, Yeezy, how can you lose? Today’s news came down that Adidas has decided to terminate their partnership with Kanye West after the star’s recent antisemitic post on Twitter, which he later walked back, but the damage was already done. In their statement today, Adidas said they no longer want to be associated with Kanye West and that they were taking steps to remove any references to him from their marketing material. What does this mean for Kanye West net worth after Adidas backs off the Yeezee partnership? Is it going down or up?.
A Short Meeting With Ye
Kanye West aka Ye, is an American rapper, director, composer, and fashion designer. He has an estimated net worth of $160 million as of 2017 according to Forbes. The husband of Kim Kardashian, who was born in Atlanta, Georgia, graduated with a degree in English. At the young age of 33, Kanye West achieved three Grammy Awards, four platinum albums, and over 30 top ten hits on the Billboard charts during his musical career.
What is Yeezy?
Yeezy is one of the most exclusive and fashionable sneaker series. The Yeezy created by renowned rapper and designer Kanye West in partnership with Adidas is noted for its distinctive look and is a favorite brand for shoe lovers.
Why Did The Partnership Fail?
Due to his antisemitic posts on the social media platform Twitter, Adidas decided to cut ties with the American rapper, which also led to the temporary suspension of his Twitter account.
A tweet, which he deleted after it went viral, says:
“I’m a bit sleepy tonight but when I wake up I’m going to death con 3 on JEWISH PEOPLE. The funny thing is I actually can’t be antisemitic because black people are actually Jews also. You guys have toyed with me and tried to blackball anyone who-ever opposes your agenda.”
Adidas Reaction After His Tweet
Adidas made it perfectly clear that they do not endorse any form of hate speech, including antisemitism. According to a statement released by the company, Adidas stated that Kanye West’s most recent actions and words are inappropriate, racist, and hurtful. And they go against the ideals of diversity, and mutual respect, and in favour of racism, to which Adidas is strictly committed.
How Is This Affecting Kanye West’s Empire?
Kanye West net worth is declining after Adidas terminated its partnership with Ye. With the Yeezy-Adidas deal, he has been a billionaire since 2020, with a $1.5 billion net worth. Without Adidas, his net worth is about $400 million.
As a result of his hateful words, West has lost business relationships with a number of companies, including Gap Inc. (GPS), Balenciaga, CAA (a talent agency), and MRC (a production company and its documentary film), among many that have cut ties with West.
Wrapping Up
His anti-semitic tweet made Kanye West’s net worth a big downfall, and he is no more a billionaire now. But he still has about $400 million net worth thanks to the cash, real estate, music archive, and participation in his wife Kim Kardashian’s shapewear brand, Skims.
