Entertainment

Kanye West claims he lost $2bn in a day after Adidas ended Yeezy deal

Kanye West has claimed he lost $2bn in one day after Adidas ended the big-money deal with the rapper over his antisemitic comments.

“I lost 2 billion dollars in one day. And I’m still alive,” he posted on Instagram on Thursday, adding: “The money is not who I am. The people is who I am.

The post was addressed to Ari Emmanuel, a top talent agent who urged businesses to cut ties with West.

Adidas and West collaborated on the extremely popular Yeezy line, with their trainers often selling for hundreds of pounds.

But the German firm finally pulled the plug on Wednesday after mounting pressure to follow others such as luxury brand Balenciaga, bank JP Morgan, Gap and Foot Locker.

“Adidas does not tolerate antisemitism and any other sort of hate speech,” a statement said.

It called West’s comments “unacceptable, hateful and dangerous” and said ending the deal would cost it about $250m this year.

More on Kanye West

The rapper – who also goes by the name of Ye – had previously boasted that he could say “antisemitic s***” and the company wouldn’t drop him.

Financial publication Forbes said the end of the Adidas contract meant West was no longer a billionaire and claimed his net worth had plunged to $400m.

The accuracy of West’s $2bn claim is hard to verify, and he has often claimed to be richer than media estimates of his wealth.

The 45-year-old’s reputation and business dealings have taken a dive since antisemitic social media comments earlier this month and controversy at Paris Fashion Week, where he wore a “White Lives Matter” T-shirt.

Recent organisations to distance themselves from the rapper include Madame Tussauds in London, which “retired” his waxwork, and Premier League side AFC Bournemouth.

The club said on Thursday it would stop playing West’s song Power – a track players have been walking out to for several years.

Some brands are sticking with West for now, with Spotify’s founder saying his music will remain on the streaming platform but condemning his “awful” comments.

Articles You May Like

Biden’s Inflation Reduction Act makes green hydrogen profitable at scale, Goldman Sachs says
South Africa domination sums up ugly year for stuttering England
‘If you touch my hair that’s abuse’: Charity boss tells of ‘violation’ during Palace exchange
Body of young girl pulled from mud after Italian landslide
Battery swapping electric scooter company Gogoro adds another country to its list