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Kanye West not a billionaire anymore after Adidas terminates partnership

Published Oct 26, 2022 10:33 am Updated Oct 26, 2022 1:08 pm

Kanye West is no longer a billionaire!

After Adidas cut ties with Kanye and his Yeezy collection, Kanye West lost his billionaire status. Adidas issued a statement on Tuesday in response to West's string of anti-Semitic remarks, saying, "Adidas does not tolerate antisemitism and any other sort of hate speech."

"Ye's recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company's values of diversity and inclusion, mutual respect and fairness," the company added.

Page Six quoted a Forbes report according to which West's worth is USD 400 million now after the Adidas partnership was terminated. The Yeezy deal accounted for USD 1.5 billion of his net worth.

West legally changed his name from Kanye to Ye and had been collaborating with Adidas on his Yeezy shoe line since 2013.

This development comes just days after Balenciaga cut ties with the rapper. Post that, while speaking to TMZ Kanye said, "I ain't losing no money... The day I was taken off the Balenciaga site, that was one of the most freeing days."

He said that people are merely cutting ties with him to "mute him. He mentioned that people are doing so to simply "score points," according to Page Six.

He further added that it's not easy to cancel him, "We here, baby, we ain't going nowhere."

He defended his anti-Semitic commend and told TMZ, "I want to talk about the Jewish comment, it's actually proven the exact point that I made."

Kanye West recently hired Johnny Depp's lawyer Camille Vasquez to handle his business matters, however, it looks like the two are not going to work together after all.

According to TMZ, Kanye doubled and tripled down on his anti-Semitic remarks over the weekend after which Camille informed her law firm that she would not work with Kanye.

TMZ reports that Camille's law firm still wanted to work with Kanye, on one condition—he publicly retract his anti-Semitic words. However, Kanye refused to do so and fired the firm himself. (ANI)