Kanye West no longer a billionaire after Adidas cuts ties: Forbes
Forbes estimates Westβs new net worth at just $400 million.
Adidas AG plans to end its partnership with Kanye West following a rash of offensive behavior from the rapper and designer that turned a once-thriving shoe brand into a lightning rod for criticism.
The German sports company may announce the move as early as Tuesday, according to people familiar with the matter, who asked not to be identified because discussions are private. A representative for Adidas didnβt immediately respond to requests for comment.
Adidas would join Gap Inc. and Kering SAβs Balenciaga fashion label in cutting ties with West, who now goes by Ye. The rapper has made controversial statements, including antisemitic social media posts in recent weeks, and has moved to cut ties with his corporate partners. Ye couldnβt immediately be reached for comment.