Kanye West is widely considered one of the most influential hip-hop artists and producers of the twenty-first century, as well as one of the most critically lauded artists of all time. Kanye is no longer in the ten-digit club. He’s now lost a fortune as a result of Adidas’s decision, not to mention the other partnerships that have fallen apart.
Forbes announced on Tuesday that Ye has lost his billionaire status as a result of Adidas’s decision to cancel their partnership with him. While Adidas may not have technically destroyed its billions on its own, several partnerships, notably Gap, are said to have fallen apart lately. The outlet did highlight that it was a significant portion of his wealth and the final nail in the coffin.
After all of this, Forbes estimates Kanye’s net worth to be in the $400 million range. This is a significant decrease from where he was a few years ago when his net worth was estimated to be approximately $1.3 billion, taking into account the majority of his public assets. As per the outlet, the majority of Kanye’s wealth currently comes from a few sources, including real estate, liquid cash, his music catalog, and a 5% stake in Kim Kardashian’s Skims brand.
It’s unclear how much of his money was wiped out by Adidas alone. However, his fans have to believe it was a pretty penny’s worth given that the company claims they’re losing nearly a quarter-billion dollars in net profits by cutting him/his shoes off only in this fourth quarter. Forbes went on to say that this is the end of a long and contentious struggle with Kanye over his billionaire status.
He’s always maintained he was worth more than what they estimated, even though the outlet has stood by its findings. Let’s see how Kanye responds to this. To get the latest updates, keep an eye on Thirsty.
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