Kanye West is making headlines these days for all the wrong reasons. Celebs are speaking out against the rapper, while he's also losing millions due to sponsors backing out of their deals.
Kanye's biggest hit was with Adidas. The deal was worth billions for Kanye and now, that seems to be all lost. We'll take a look at what Kanye is left with these days, after his split from Adidas.
In addition, we'll also take a closer look at Kanye's antics following the split, and how he showed up to Skechers completely unannounced.
Kanye West Claims Forbes Was Making False Reports About His Net Worth
Kanye West is taking a major hit, along with Adidas following the end of their partnership. In truth, Kanye West has been very critical of his net worth in the past, especially with Forbes. According to the publication, West has constantly emailed them about his net worth, stating that they were underreporting his actual worth.
Forbes writes, "Removing Ye from the Billionaires’ list caps off a years-long saga between the rapper and Forbes. Ye always felt his net worth was undervalued. When he first made the list in 2020, with an estimated $1 billion fortune, Ye wasn’t happy. “It’s not a billion,” he texted us at the time. “It’s $3.3 billion since no one at Forbes knows how to count.”
Forbes further notes that the Kanye's problem with their reporting continued every year, so much so that Kanye sent actual documents in the past year, showing the terms of his Adidas partnership, worth $4.3 billion alone.
All of that is now set to change, following Adidas' major decision.
Kanye West Is Left With $400 Million Due To His Falling Out With Adidas
Adidas kept quiet following Kanye's latest rant. However, that all changed in a major way, as the company issued a lengthy statement, issuing his official release.
“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."
They 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.”
Suddenly, Kanye's billionaire status vanished, and now he's reportedly left with $400 million. Forbes reported on his remaining funds which includes, "real estate, cash, his music catalog and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims."
Adidas is also set to take a major hit, estimated to lose $240 million over the lost sponsorship deal.
Kanye was quick to try and remedy the situation. However, things didn't work out all that well for the artist.
Kanye West Showed Up To Skechers After Losing His Adidas Deal
Kanye West showed up to Skechers, completely announced in Manhattan Beach, California. According to People, the rapper was escorted out of the building.
Skechers made a statement, claiming the rapper was also filming without consent on the property.
"He engaged in unauthorized filming. Skechers is not considering and has no intention of working with West," the company added. "We condemn his recent divisive remarks and do not tolerate antisemitism or any other form of hate speech."
Without a doubt, given the recent controversy, this number may only decrease even further, with other sponsors backing out. It also put the future of Kanye's music career in question, which is another major source of revenue for the artist.