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Kanye West says he lost $2 billion in one day after Adidas, Balenciaga, and Gap severed ties with the rapper over his offensive behavior

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Ye, previously referred to as Kanye West.

  • Kanye West stated he lost $2 billion in one day after firms minimize ties with him.
  • West’s Adidas deal was valued at $1.5 billion however the agency scrapped it after his offensive remarks.
  • The remainder of his fortune is in music, money, actual property, and Kim Kardashian’s clothes line, Forbes says.

Kanye West, previously referred to as Ye, stated on Thursday that he lost $2 billion in one day after main firms minimize ties with him due to his offensive behavior and feedback.

Adidas, Gap, Balenciaga, and Vogue determined to finish their enterprise relationship with Ye following his “hateful and dangerous” feedback and behavior, together with saying he was “going death con 3 on JEWISH PEOPLE.”

In an Instagram put up on Thursday captioned “LOVE SPEECH,” Ye appeared to handle Ari Emanuel, CEO of media and leisure agency Endeavor, who wrote an op-ed in The Financial Times, calling for music firms to stop working with Ye due to his antisemitic feedback.

“I lost 2 billion dollars in one day and I’m still alive,” Ye wrote in the put up. “This is love speech, I still love you, God still loves you.”

“The money is not who I am,” he stated, including: “The people is who I am.”

Before being dropped by Adidas and different firms, Ye had a web price of round $2 billion, in line with Forbes. Ye’s partnership with Adidas was valued at $1.5 billion, however after the retail firm severed ties with the rapper, his web price fell to $400 million, per Forbes. As a outcome, he dropped off Forbes’ Billionaires’ listing.

The remainder of Ye’s fortune stays in his music, actual property, money, and a 5% stake in his ex-wife Kim Kardashian’s clothes line, Skims, Forbes reported.

The 45-year-old disputed the figures and advised Forbes this yr that the Adidas deal alone was valued at $4.3 billion. When Forbes revealed its billionaires listing with Ye valued at $2 billion, he told Forbes the publication had undervalued him.

When Ye was first listed as a billionaire by Forbes with an estimated $1 billion fortune, he stated he really had $3.3 billion to his title.

Ye’s Instagram put up got here hours after he was escorted out of a Skechers corporate office in Los Angeles after visiting “unannounced and without invitation,” the firm advised Insider in a press release. On high of this, Ye’s controversial $15,000-a-year Christian school abruptly shut its doorways, reviews stated.

As properly as antisemitic tweets, Ye sparked controversy by sporting a shirt emblazoned with the words “White Lives Matter”  throughout Yeezy’s present at Paris Fashion Week in early October.

Read the authentic article on Business Insider

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