Following his recent controversial and antisemitic opinions, rapper and songwriter Kanye West has lost his billionaire spot on the Forbes List. This drop in status was as a result of the termination of several lucrative partnerships by luxury organisations like Balenciaga, Gap and Def Jam. The termination that had the most dent on Kanye's net worth was the partnership termination by Adidas.
An estimated $1.5 billion of Kanye's net worth is attributed to the rapper's business relationship with German sportswear giant, Adidas. With the termination of the lucrative deal with the company, Kanye’s net worth is now estimated to be around four hundred million dollars. The rapper had challenged the company to drop him, following his lengthy barrage of antisemitic remarks on social media and in national media appearances.
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Kanye had worked with Adidas since 2013 on his Yeezy line of super-expensive, super-popular sneakers. Adidas got an estimated 4% to 8% of its sales from Yeezy products, according to investment bank Cowen. However Kanye's antisemitic words put the German athletic wear company, with its own Nazi ties dating back to its founders, in the hot seat.
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