Forbes: Kanye West Is No Longer a Billionaire

End of Adidas deal 'was the final nail in Ye’s net-worth coffin'
By Rob Quinn,  Newser Staff
Posted Oct 25, 2022 7:58 PM CDT
Forbes : Kanye West Is No Longer a Billionaire
Yeezy shoes made by Adidas are displayed at Kickclusive, a sneaker resale store, in Paramus, NJ, Tuesday, Oct. 25, 2022.   (AP Photo/Seth Wenig)

Kanye West has repeatedly disputed his position on Forbes' list of billionaires but the magazine says that will no longer be an issue—because he's no longer a billionaire. Adidas ended its relationship with the rapper Tuesday in a move that Forbes says "was the final nail in Ye’s net-worth coffin." According to Forbes' calculations, the partnership on Adidas' Yeezy line of sneakers accounted for $1.5 billion of Ye's net worth and without it, he's left with a total of around $400 million in cash, real estate, and other assets.

The value of the Adidas income stream was calculated as a multiple of annual earnings "similar to royalties from music catalogs or film residuals," Forbes explains. Ye, who has been making antisemitic remarks for weeks, has also been dropped by other business partners and a talent agency that had represented him since 2016. Gap, which signed a 10-year deal with Ye in 2020, announced the end of the Yeezy Gap partnership last month. On Tuesday, the company said it had taken "immediate steps to remove Yeezy Gap product from our stores and we have shut down," Axios reports. "Antisemitism, racism, and hate in any form are inexcusable and not tolerated in accordance with our values," the company said. (More Kanye West stories.)

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