American rapper and fashion mogul Kanye West has officially lost his billionaire status following the end of Adidas and other major deals.
Kanye, who claimed “I can say antisemitic and Adidas cannot drop me” on the Drink Champs show, lost a fortune as a result of Adidas finally terminating their decade long deal with him, according to Forbes.
The German company, whose founders had ties to the Nazi, had to bow to pressure to drop Kanye after a banner draped over Los Angeles highway overpass read: “Kanye was right about the Jews”.
The banner was followed by a group of white supremacists giving the Nazi salute to drivers, referring to Kanye’s “death con 3 on Jewish people” tweet, which has since gotten the rapper removed from Twitter and Instagram.
Making the status of his current net worth officially known on October 25, Forbes stated that the former billionaire lost his status due to the end of his partnerships with Balenciaga, Gap, Def Jam, being dropped by his agency CAA and the final nail on the coffin, Adidas.
Kanye, who according to Forbes in early 2022 was worth $2 billion dollars, will see the star drop to approximately $400 million due to the loss of these major deals.
Kanye, who at one time claimed to be the richest black man of all time, will now have a reduced source of income, including real estate, liquid cash, royalties from past music catalog and a 5 per cent stake in ex-wife Kim Kardashian’s Skims brand.
