Kanye says he lost $2 billion in one day as Adidas, others leak anti-Semitic comments

Kanye says he lost $2 billion in one day as Adidas, others leak anti-Semitic comments

LOS ANGELES, California (AFP) – Kanye West lost $2 billion in a single day, he said on Thursday, as business partners rushed to dump the rapper following a series of explosions anti-Semitic.

The music and fashion mogul has seen lucrative business ties scrapped as companies such as Adidas and Gap reacted to pressure to sever ties with him over comments labeled as hate speech.

“I lost $2 billion in one day. And I’m still alive. It’s a love speech,” West, also known as Ye, wrote on Instagram in a post that was loved over a million times.

“I still love you. God still loves you. Money is not who I am. People are who I am,” reads the message to Ari Emanuel, the CEO of entertainment company Endeavour. , who had urged the companies to sever ties with the rapper.

German sportswear giant Adidas announced on Tuesday that it was ending its partnership with West after his “unacceptable, hateful and dangerous” remarks.

Adidas also said it would end production of the highly successful “Yeezy” line designed in collaboration with West and “stop all payments to Ye and his companies.” The move is expected to shave about a quarter of a billion dollars from Adidas’ bottom line this year alone.

An injured member of the Memphis Grizzlies wears a pair of Adidas “Yeezys” while watching against the Denver Nuggets during the second half of an NBA basketball game Monday, Feb. 29, 2016, in Denver. (AP/David Zalubowski)

Forbes estimated that Adidas accounted for $1.5 billion of West’s net worth and without the deal it will drop to $400 million, including his music catalog, real estate, cash and a stake. in ex-wife Kim Kardashian’s shapewear company, Skims. Forbes said it will no longer include West on its list of billionaires, although the rapper has insisted in the past that the magazine underestimates his wealth.

West, who is open about his struggles with bipolar disorder, has long been outspoken, halfheartedly running for president of the United States in 2020 and then throwing his weight behind Donald Trump.

His drive to go beyond pallor is a double-edged sword for business partners, who have benefited from his notoriety and frequent media appearances, but risk being tarnished by the association.

Rapper Kanye West shows U.S. President Donald Trump a photograph of a hydrogen powered airplane during a meeting in the Oval Office of the White House on October 11, 2018 in Washington, D.C. (AP Photo/Evan Vucci)

While they resisted previous comments, including when West called slavery a “choice,” things started to go downhill this month with his appearance at a Paris fashion show wearing a shirt emblazoned with “White Lives Matter”, a slogan created in reaction to Black Lives. Movement of matter.

Days later, he was temporarily banned from Twitter and Instagram for threatening to “Go death con 3 on JEWISH PEOPLE”, using a misspelled reference to US military readiness.

It sparked alarm, apparently including from his ex-wife Kim Kardashian, who wrote on social media “Hate speech is never acceptable or excusable,” in posts that did not name West.

Last weekend, a banner was hoisted on a busy Los Angeles freeway that read “Kanye is right about the Jews” and “Honk if you know.” Several people were photographed greeting “Heil Hitler”.

Anti-Semites on a banner above the LA freeway declaring ‘Kanye is right about the Jews’ (Oren Segal, via Twitter / Used pursuant to Section 27a of the Copyright Act)

Adidas’ announcement was followed hours later by US-based company Gap, which said it was taking “immediate action to remove Yeezy Gap product from our stores” in addition to shutting down YeezyGap.com.

Parisian fashion house Balenciaga also ended its ties with the rapper last week, saying he “is no longer [has] no relationship or plans for future projects related to this artist.

One of Hollywood’s biggest talent agencies, CAA, said it was dropping West, while film and TV producer MRC said it was shelving an already completed documentary about the entertainer.

West was escorted from the offices of the Skechers shoe company in Los Angeles on Wednesday after showing up uninvited with a camera crew, the company said.

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