- Kanye West says he lost $2 billion in one day after companies cut ties with him.
- West’s Adidas deal was valued at $1.5 billion, but the company scrapped it after his offensive remarks.
- The rest of his fortune is in music, cash, real estate, and Kim Kardashian’s clothing line, says Forbes.
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Kanye West, known as Ye, said Thursday that he lost $2 billion in one day after major companies cut ties with him over his offensive behavior and comments.
Adidas, Gap, Balenciaga and Vogue decided to end their business relationship with Ye after his “hateful and dangerous” comments and behavior, including saying that he “would bring death to the JEWISH PEOPLE”.
In an Instagram post titled “LOVE SPEECH,” Ye appeared to reach out to Ari Emanuel, CEO of media and entertainment company Endeavor, who wrote an op-ed in the Financial Times urging music companies to stop collaborating with Ye because of his anti-Semitic stance Comments.
“I lost $2 billion in one day and I’m still alive,” Ye wrote in the Post. “This is love speech, I still love you, God still loves you.”
“The money is not who I am,” he said, adding, “The people are who I am.”
Before being dumped by Adidas and other companies, Ye had a net worth of around $2 billion, according to Forbes. Ye’s partnership with Adidas was valued at $1.5 billion, but after the retailer cut ties with the rapper, his net worth dropped to $400 million, according to Forbes. As a result, he was removed from the Forbes list of billionaires.
The rest of Ye’s fortune remains in his music, real estate, cash and a 5% stake in ex-wife Kim Kardashian’s clothing line, Skims, Forbes reported.
The 45-year-old disputed the figures, telling Forbes earlier this year that the Adidas deal alone was worth $4.3 billion. When Forbes released its billionaires list with Ye worth $2 billion, he told Forbes the publication undervalued him.
When Ye was first listed by Forbes as a billionaire with an estimated net worth of $1 billion, he said he actually had $3.3 billion to his name.
Ye’s Instagram post came hours after he was escorted out of a Skechers corporate office in Los Angeles after an “unannounced and uninvited” visit, the company told Insiders in a statement. In addition, the controversial Yes Christian school, which costs $15,000 a year, abruptly closed its doors, reports said.
In addition to anti-Semitic tweets, Ye sparked controversy by wearing a “White Lives Matter” t-shirt during Yeezy’s show at Paris Fashion Week in early October.