Colleagues from the American ROLLING STONE and the UK financial platform “Forbes” did the math: The impressive fortune of rap mogul Kanye West, also known as “Ye”, then melts like a glacier in the Swiss Alps. The background to this is the termination of various company partnerships without notice, including Adidas, which no longer wants to work with West because of his anti-Semitic statements.
West recently complained to US TV and radio talker Chris Cuomo that the proverbial little cowboy on the street doesn’t quite recognize him as a “billionaire.” After the breathtakingly quick loss of various business deals, he is no longer that.
The Forbes research team estimates the contract with the German sports brand Adidas alone to be worth 1.5 billion dollars. In addition, there are (or better: came!) other fashion, media and rights deals.
In September 2022, the London business magazine estimated Yes’ assets at an impressive two billion dollars.
The “Guardian” has taken a look at the rapper’s immense business network, which is now tearing in many places. Normcore fashion brand GAP, for example, announced on Tuesday (October 25) that the company is “taking immediate steps to remove ‘Yeezy Gap’ products from our stores,” according to The Guardian — and also that they are launching the “Yeezy Gap” website will be taken down immediately.
US research revealed that West’s “net worth” had shrunk to $400 million; now consisting of a mix of real estate, cash, his catalog of music rights, and a five percent stake in Kim Kardashian’s shapewear company Skims.
Even if “Forbes” has no direct insight into the accounting of Kanye West’s empire, the losses caused by his ongoing riot statements are immense.
The previous quarrels about his “real” fortune were also bizarre: in 2020 he achieved the “official” status of a billionaire for the first time. He, in turn, complained to the Forbes creators that their estimate was a few billion dollars off. In early 2022, West also lamented that Forbes would price him in at “only” two billion dollars. The rapper even submitted documents claiming that the Adidas partnership alone was worth $4.3 billion.
Forbes, ROLLING STONE and Guardian lists show that companies like Balenciaga, banking giant JP Morgan Chase and its longtime talent agency CAA have all terminated their contracts with immediate effect (or are in the process of doing so).
Universal Music Group, the parent company of West’s acquired hip-hop label Def Jam, also issued a statement strongly condemning his comments and actions.