Kanye West, a renowned American music tycoon, and performing artiste, would no longer be able to address himself as a billionaire. This is as Adidas, a sportswear brand, ended its relationship with the rapper.
Trouble began for West when he stated on a now-removed episode of the Drink Champs podcast that he could be prejudiced against Jewish people, and that his deal with Adidas would remain intact.
“The thing about it being Adidas is, like, I can literally say antisemitic s–t and they can’t drop me … I can antisemitic things and Adidas can’t drop me. Now what?” West queried on the show, as he expressed confidence that the company could not drop him regardless of his comments against the Jewish community.
However, earlier this month (October 2022), Adidas stated that it was reviewing its relationship with West.
In a statement addressed to members of the public, Adidas made its stance known on the rapper’s anti-Semitic comments and attitudes that have fueled hate groups, saying it doesn’t tolerate such, or “any other type of hate speech.”
“Ye’s recent comments and actions have been unacceptable, hateful, and dangerous, and violate the company’s values of diversity and inclusion, mutual respect and fairness.”
With this development, Forbes reports that West is now only worth $400 million.
BizWatch Nigeria understands that the relationship between West and Adidas began nine years ago when the duo collaborated to launch the Yeezy brand.
The deal generated $1.5 billion in net worth for the music star.
Adidas wasn’t the only brand to walk away from deals with West. GAP, Balenciaga, and Vogue ended the relationship with Ye.
