Lisa Mugo
Rapper and business man Kanye West is no longer a billionaire according to Forbes magazine, due to the fact that Adidas have cut ties with him after his antisemitic comments.
Kanye is feeling the pinch as his recent media remarks have left a major dent in his pockets as brands have cut ties with him, the most recent one being Adidas, which produces his famous Yeezy line of shoes valued at $1.4 billion.
“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,” Adidas said in a statement on Tuesday.
They also added that they would immediately stop all payments to Ye and his companies, as well as end production of all Yeezy branded products.
The move has probably come as a shocker to Ye as he had earlier on stated that he can make antisemitic remarks and Adidas would not dare drop him.
Ye’s is now reportedly worth $400 million as his billionaire status came from Adidas and the Yeezy partnership which they began back in 2015.
Kanye has also been cut of by GAP, Balenciaga, Vogue, CAA, G.O.O.D Music and Def Jam among other brands and people who want to distance themselves from him.
The rapper had refused to retract his statement but now that his remarks are costing him a whole lot, he might apologize and take back his words.
