Kanye West could say just about anything without consequences. The rapper has made controversial statements throughout his career, but they have generally been dismissed because he was seen as an audacious entertainment personality capitalizing on the spotlight. Yet, in recent years, West’s comments have become hot topics as they’ve eased from pop culture into the political arena, and not everyone has been co-signing his sentiments.
West has been critical of the Black community and has even partnered with Candace Owens in his MAGA support. From his White Lives Matter shirts to anti-Black rhetoric to anti-Semitic remarks, West has ushered in a new phase of his legacy that not everyone has approved of.
This controversy has unfolded in real time as we’ve learned of several Kanye West partnerships being dissolved. It has been reported that his talent agency dropped him, The Gap ended their relationship with him, Adidas severed ties, Def Jam released G.O.O.D. Music, Vogue will no longer work with him, a production team shelved their documentary, and he’s been booted from Twitter and Instagram.
Many of Ye’s lucrative business dealings were what helped launch him into billionaire status. Yet, with many of them coming to an abrupt end, Forbes reported that this has severely impacted West’s finances, making it so that he is no longer listed as a billionaire on the books. When Forbes reached out to West for comment, he reportedly did not respond.
“kanye is just trolling it’s not like anyone takes him seriously lol” pic.twitter.com/jHKmFZVYXf
— matt (@mattxiv) October 23, 2022
Meanwhile, the outlet stated that West’s Adidas deal was valued at $1.5 billion, and “based on interviews with industry experts, Forbes had viewed the royalties Ye received from Adidas to be similar to royalties from music catalogs or film residuals. The Adidas income stream could be sold off, those experts said, just like dozens of musicians (including the likes of Bob Dylan and Bruce Springsteen) have sold off their life’s work over the past two years.”
If you recall, Forbes and West have a contentious relationship. Two years ago, they penned that the Rap mogul was worth $1 billion but he believed that number was grossly underestimated. Now, Forbes claims that sans his Adidas deal, Ye’s value is $400 million which “comes from real estate, cash, his music catalog, and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims.”
It is unclear if West’s scandal will result in any further partnership losses.
— StopAntisemitism (@StopAntisemites) October 20, 2022