Why Is Kanye West No Longer A Billionaire?

Kanye West has been in the news frequently of late, and not for great reasons. After making antisemitic comments on Twitter, people and companies have distanced themselves from him, including Balenciaga, Anna Wintour, Vogue, and his talent agency (CAA). The latest to drop him was Adidas, and that was enough for Forbes to estimate that he is no longer a billionaire.

In 2020, Forbes declared that Kanye West had become a billionaire with an estimated net worth of $1.3 billion. West pushed back on that, though, claiming his actual worth was $3.3 billion. Forbes estimated that after getting dropped from Adidas, West is worth about $400 million. This comes from real estate, cash, his music catalog, and a 5-percent stake in Skims, Kim Kardashian’s shapewear brand.

When severing ties with West, Adidas shared this statement: “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. 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.”