American rapper Kanye West is no longer a billionaire after sportswear making company Adidas ended a lucrative Yeezy deal following his bizarre anti-Semitic outburst.
This was made known in a report by Forbes on Tuesday, October, 25, which further revealed that of West’s estimated $2 billion fortune, a whopping $1.5 billion was attributable to his relationship with Adidas.
“After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies,” Adidas said in a statement on its decision. “Adidas will stop the Adidas Yeezy business with immediate effect.”
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Now that the deal has been ended by Adidas, it effectively erases that massive chunk of his net worth, which is now estimated to be a comparatively paltry $400 million.
“When you part ways with a massive company that is your distribution partner it has to have an impact on your bottom line,” Columbia University sports management professor Joe Favorito told The Post.
