The actor claims he suffered a significant financial setback after his lucrative deal with Adidas was terminated following an outcry for anti-Semitic remarks. He had claimed that despite the issue, the company would not fire him.
Kanye West claims he lost $2 billiоn in one day because Adidas terminated his multimillion-dollar contract due to his anti-Semitic remarks.
“I lost $2 billiоn in one day.” “And I’m still alive,” he said on Instagram on Thursday. I am who I am because of the people.
The message was sent to Ari Emmanuel, a major talent agency that has advised companies to break relations with West.
Adidas and West collaborated on the immensely successful Yeezy brand, which sold for hundreds of pounds.
However, amid rising criticism from others such as luxury brand Balenciaga, bank JP Morgan, Gap, and Foot Locker, the German corporation eventually pulled the plug on Wednesday.
“Adidas does not tolerate antisemitism and any other sort of hate speech,” the company stated in a statement.
It called West’s remarks “unacceptable, hateful, and dangerous,” and said terminating the agreement would cost it roughly $250 million this year.
The rapper – who also goes by the nаme of Ye – had previously boasted that the company wouldn’t drop him.
Financial publication Forbes said the end of the Adidas contract meant West was no longer a billionaire and claimed his net worth had plunged to $400m.
The accuracy of West’s $2bn claim is hard to verify, and he has often claimed to be richer than media estimates of his wealth.
The 45-year-old’s reputation and business dealings have taken a dive since antisemitic social media comments earlier this month and controversy at Paris Fashion Week, where he wore a “White Lives Matter” T-shirt.
Recent organizations to distance themselves from the rapper include Madame Tussauds in London, which “retired” his waxwork, and Premier League side AFC Bournemouth.
The club said on Thursday it would stop playing West’s song Power – a track players have been walking out to for several years.
Some brands are sticking with West for now, with Spotify’s founder saying his music will remain on the streaming platform but condemning his “awful” comments.