Kanye West May Lose Billionaire Standing; perceive
- October 26, 2022
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After the end of the partnership between Kanye West and Adidas announcing this Tuesday, the American rapper could lose his billionaire status.
Earlier this month, the American business magazine Forbes had already warned about the possibility that the singer would have his fortune drastically reduced if the collaboration with the sporting goods company was ended.
According to Forbes’ calculations, Ye’s net worth — as he’s been legally known since last year — is estimated at $2 billion.
In all, the value of the contract with the German brand was US$ 1.5 billion, which gave the singer an annual agreement of US$ 220 million.
Without the income from Adidas, from now on, the magazine estimates that the net worth de West is less than $1 billion.
Kanye officially entered the Forbes Billionaires list in April 2020. At the moment, he appears at position 1,513, being the fifth highest paid artist in 2022.
What did Kanye West do?
Adidas’ decision was made after a series of anti-semitic comments made by Kanye West in recent weeks. In an official press release, the brand claimed that “after an in-depth study, the company has made the decision to immediately end the collaboration with Ye,” the group said in a statement.
“Adidas does not tolerate anti-Semitism or any other form of hate speech,” the company added.
Kanye West’s partnership with Adidas was forged in 2014, shortly after he ended a contract with rival Nike. Two years later, in 2016, the launch of Yeezy sneaker collection.
In 2020, according to the Bloomberg television network, the estimate is that Yeezy generated revenues of around US$ 1.7 million, while the company’s overall income was around US$ 18 million.
On the other hand, Kanye West himself even said on his Instagram account that 68% of Adidas sales would be derived from the Yeezy line. The claim, however, did not present official sources or evidence of data.
Source: O Globo Agency