Kanye West’s net worth has been scythed from $2bn to $400m after Adidas ended their Yeezy partnership, according to Forbes magazine.
After days of relentless pressure, Adidas announced on Tuesday it had terminated its business relationship with the 45-year-old rapper and fashion mogul over his repeated antisemitic remarks.
“Adidas does not tolerate anti-Semitism and any other sort of hate speech,” it said in a press release.
“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.”
West had goaded the German footwear giant, saying on the Drink Champs podcast earlier this month: “I can say antisemitic s*** - and Adidas cannot drop me.”
Fortune forecasting bible Forbes had put West’s net worth at $2bn as recently as this week, but with Adidas cutting ties it drastically reduced the estimate to just $400m on Tuesday.
Forbes calculated the deal to sell the highly popular, expensive Yeezy line of sneakers was worth $1.5bn to West, across several years.
His new $400m wealth estimate is based on his real estate portfolio, cash, music catalogue and a five per cent stake in ex-wife Kim Kardashian’s firm Skims.
Fashion House Balenciaga, Vogue magazine and talent agency CAA are among several companies to have already axed partnerships with West, and film company MCR said it would refuse to distribute a recently completed documentary on the 45-year-old.
West’s representatives did not immediately respond to a request for comment.
