Kanye West just took a major hit to his net worth.
Following the announcement that Adidas is cutting ties with him over his recent spate of antisemitic comments, Forbes reported that the rapper has lost his billionaire status.
While the decision to drop Ye and his Yeezy line will cost Adidas a lot — the company is said to get an estimated 4 to 8 percent in sales from the line — it’s West who comes away worse off.
According to Forbes, the deal with Adidas accounted for a whopping $1.5 billion of his net worth. His worth is now estimated to sit at $400 million.
News that the shoe company was severing its relationship with West came after the rapper had told the “Drink Champs” podcast. “I can say antisemitic s**t, and Adidas cannot drop me.”
Indeed, it took several days of pressure on social media and elsewhere before Adidas made the announcement. The company had previously placed their partnership with West “under review” due to both his antisemitic statements, and his public castigation of their executives.
Pressure had been mounting on Adidas to end the partnership after West’s agency CAA dropped him, and MCR Entertainment announced they were shelving a completed documentary about him.