Kanye West has lost his billionaire status after Adidas cut ties with the rapper due to the incessant antisemitism he has displayed on social media, Forbes has reported.
The 45-year-old hitmaker and his recent indulgence in casual antisemitism have sabotaged his place on the Forbes Billionaires' list now that his lucrative deal with the German sportswear brand has come to an end.
West's partnership with Adidas crumbled after the company reviewed his "unacceptable, hateful, and dangerous" comments related to Jewish people.
Sharing a statement on its website on Tuesday, the sportswear giant said: "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."
It continued: "After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy-branded products, and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect."
According to Forbes, West's deal with Adidas had accounted for $1.5 billion of his net worth. Now that Adidas - who forged a partnership with the rapper in 2013 - has cut ties, West is worth $400 million.
Per Forbes' estimate, the rest of his fortune, comes from real estate, cash, his music catalog and a 5% stake in his former wife Kim Kardashian's shapewear brand, Skims.
The end of the partnership, Adidas said, would likely have a "short-term negative impact of up to 250 million euro on the company’s net income in 2022 given the high seasonality of the fourth quarter."
It added that it remains "the sole owner of all design rights to existing products as well as previous and new colorways under the partnership."
Adidas follows a series of companies that have cut ties with West over his recent controversial statements.
Balenciaga announced on Friday that it "no longer has any relationship nor any plans for future projects related to this artist."
Shortly after, a spokesperson for Vogue told Page Six that neither the magazine nor its editor-in-chief Anna Wintour had any future intentions of working with West.
"Anna has had enough," the source was quoted as saying. "She has made it very clear inside Vogue that Kanye is no longer part of the inner circle."
Earlier this month, the 'Famous' musician's Twitter account was locked after he tweeted: "I’m a bit sleepy tonight but when I wake up I’m going death con 3 On JEWISH PEOPLE."
"The funny thing is I actually can’t be Anti Semitic because Black people are actually [Jews] also You guys have toyed with me and tried to blackball anyone whoever opposes your agenda," West added.
West's Instagram account was locked on October 7 after he shared an antisemitic post in which he appeared to suggest fellow rap artist Diddy was controlled by Jewish people.
Included in the post was a screenshot of a text exchange he had with Diddy, with the caption "Jesus is Jew."
