vForbes claims that Kanye West is no longer a billionaire. The rapper was sacked for a long list of antisemitic sentiments, according to the October 25 article, and as a result, he was taken off on the list of billionaires.

Adidas announced earlier this month that their collaboration with Kanye was under review after the rapper claimed on a now-deleted edition of the Drink Champs podcast that "I can say antisemitic s-t and they can't dump me... I can see antisemitic stuff and Adidas can't drop me. What's next?," as per Billboard.

Kanye West Controversies

However, Kanye West's remarks put the German athletic apparel company with Nazi connections that date back to its founding on the defensive. As Ye's series of antisemitic comments received outrage from the highest echelons of Hollywood, pressure on Adidas to cut ties with him increased.

Adidas remained silent for several weeks until announcing on October 6 that their relationship with Ye was under review. After a photograph of a sign reading Kanye West was right about the Jews and a group of white nationalists giving the Nazi salute to oncoming traffic was published over the weekend, pressure on Adidas increased.

Adidas officially broke its silence and dissolved the relationship with Kanye West on October 25. That action will cost them much, but Ye will suffer considerably more as it immediately removes him from the millionaire club. Ye is no longer a billionaire after that was removed, according to Forbes. 

Adidas abhors hate speech in all its forms, including antisemitism. "Ye's recent words and actions have violated the firm's values of diversity and inclusiveness, mutual respect, and fairness, which have been disrespectful, hateful, and dangerous, the company said in a press release. Following careful consideration, the company has decided to immediately sever its relationship with Ye, halt the production of goods bearing the Yeezy brand, and suspend all payments to Ye and his businesses. Adidas will stop running its Adidas Yeezy company right away."

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Kanye West Net Worth

In recent years, estimates of Kanye West's fortune have ranged substantially. Bloomberg said that he was worth up to $6.6 billion in 2021. However, Forbes estimated his net worth to be $2 billion. Financial records indicated that the total market value of West's Adidas division may reach $3.7 billion.

Due to its proximity to the crucial holiday quarter, Adidas stated that its move to cut ties with West will have a short-term negative impact of almost $250 million on its net profitability in 2022. Jonathan Komp, a Baird analyst, estimated that the Yeezy collaboration produced a high-30% operating margin for the business and around $1.8 billion in annual revenue in a note to investors.

Adidas has recently come under intense pressure to cancel its agreement with Kanye West. The Anti-Defamation League and other well-known figures have urged the firm to take a stand. Balenciaga and CAA, a talent agency, also severed their connections with West. In response to his comments, Endeavor CEO Ari Emanuel urged businesses to boycott Kanye West, New York Post reported.

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