Kanye Westâ€™s Net Worth Obliterated As Adidas Cuts Ties | Forbes

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Published on Oct 25, 2022
Just days ago, the rapper-cum-fashion entrepreneur Kanye West challenged Adidas to drop him following a weeks-long barrage of antisemitic remarks made on social media and in national media appearances.

â€œI can say antisemitic sâ€”- and Adidas cannot drop me,â€ said the rapper, who legally now goes by the name â€œYe,â€ on the Drink Champs podcast earlier this month. Ye, who had worked with Adidas since 2013 on his Yeezy line of super-expensive, super-popular sneakers, thought he was untouchable. After all, Adidas gets an estimated 4% to 8% of its sales from Yeezy products, according to investment bank Cowen. For Ye, it was an even bigger deal, accounting for $1.5 billion of his net worth.

Todayâ€”Tuesday, October 25â€”Adidas finally broke its silence and ended the relationship. That move will cost them big, but Ye even more, immediately knocking him out of the billionaire ranks.

Read the full story on Forbes: https://www.forbes.com/sites/lisettevoytko/2022/10/25/billionaire-no-more-kanye-wests-anti-semitism-obliterates-his-net-worth-as-adidas-cuts-ties/?sh=28b851b817e7

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