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

Share to friends
Listen to this article
Ye, previously generally known as Kanye West.

  • Kanye West stated he lost $2 billion in one day after corporations reduce 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 generally known as Ye, stated on Thursday that he lost $2 billion in one day after main corporations reduce 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 publish on Thursday captioned “LOVE SPEECH,” Ye appeared to deal with Ari Emanuel, CEO of media and leisure agency Endeavor, who wrote an op-ed in The Financial Times, calling for music corporations 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 publish. “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 corporations, Ye had a web price of round $2 billion, based on 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’ record.

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 informed Forbes this yr that the Adidas deal alone was valued at $4.3 billion. When Forbes revealed its billionaires record 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 publish got here hours after he was escorted out of a Skechers corporate office in Los Angeles after visiting “unannounced and without invitation,” the firm informed Insider in an announcement. On high of this, Ye’s controversial $15,000-a-year Christian school abruptly shut its doorways, experiences stated.

As nicely 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 unique article on Business Insider

Go to Source