Adidas Cuts Ties With Kanye West Due to Antisemitism, Reducing His Net Worth to $400 Million.
After Mr. Wests debut, a “White Lives Matter” T-shirt design at Paris Fashion Week, Adidas’ Yeezy brand relationship with him was on hold. Adidas announced that his items will be immediately removed from the market.
Adidas estimates that by ending the contract, it will suffer a net loss of £217 million in 2022. Additionally, the rapper dropped off of Forbes magazine’s list of billionaires.
According to the magazine, Ye’s net worth decreased from $1. 5 billion to $400 million as a result of the loss of the Adidas agreement.
