Adidas and Kanye West Split

Adidas has recently broke their ties with rapper Kanye West over anti-semitic comments. Ye bluntly said, “I can say anti-Semitic things and Adidas can’t drop me.” This reached the eyes of Adidas and they actually did end their partnership with him. Ye’s comment resulted in fans agreeing that Kanye is right about Jews. $246 million was cut from the final quarter of Adidas and Ye’s financial year. Saying such absurdity is unacceptable.

Kanye’s Net Worth

Kanye West has nearly made $150 million dollars from music sales. Sponsorships and stocks is what made Kanye a billionaire. More companies like GAP and Foot Locker are starting to jump in on this by not promoting his drops any longer. Ye, also, is no longer on the Forbes Billionaires’ list ever since Adidas cut ties with the rapper. According to investment bank Cowen, Yeezy products account for 4% to 8% of Adidas’s sales. $1.5 billion of Kanye West’s net worth is from a deal with the company. Adidas felt pressured to say something about the situation between the two. They later announced that Ye’s contract was under review. Tuesday, October 25, Adidas had officially dismember Kanye West. Ye is no longer a billionaire as a consequence of this. His net worth is about $400 million according to Forbes.

The Rising Impact

United States struggles with racism and hate speech already; Kanye West is only adding more fuel to the fire. His words have a really big significant impact especially since he is higher up in the tier of celebrities. It has been reported by local residents that people have hung up banners by highways to promote his ugly choice of words, saying: “Kanye is right about the Jews.” They were, also, doing a very controversial Nazi salute. Police are currently investigating neighborhoods in L.A. that have anti Semitic flyers.

Companies

Adidas, GAP, Vogue, MRC Entertainment, Balenciaga, Donda Sports, and Def Jam Records have made it public that they aren’t sitting well with Ye’s comments. Gap’s website, YeezyGap.com, was still up and running in September when it was known the two had stopped working together. It was only recently that they terminated it on October 25. “Antisemitism, racism, and hate in any form are inexcusable and not tolerated in accordance with our values. On behalf of our customers, employees and shareholders, we are partnering with organizations that combat hate and discrimination,” stated GAP. Ye and Def Jam’s contract, with his long-term record label, ended with the release of his 2021 album ‘DONDA.’ It’s unclear whether the reported lease period is related to Ye’s past anti-Semitic remarks or his “White Lives Matter” gimmick.

Ye’s surprising unannounced visit to the well known brand Skechers went completely downhill on October 26. “Considering Ye (referring to West) was engaged in unauthorized filming, two Skechers executives escorted him and his party from the building after a brief conversation,” the company stated. Clearly, Skechers has no intentions working with West. It looks like the footwear company already heard the news from other major companies like Balenciaga. They are also declining to further work with Kanye, according to luxury company Kering who made the comments on Women’s Wear Daily. Many more companies are still planning their exit statement.

Celebrities Reactions

Many celebrities have come out and stated their own opinions on Ye’s comments. “Weird how all these ‘free, independent thinkers’ always land at the same old anti blackness and anti Semitism,” tweeted singer John Legend. Rob Reieber, also, added, “Kanye West is a mentally ill anti-Semite. Tommy Tuberville is a racist. Herschel Walker is a moronic liar. Donald Trump is a Fascist Criminal. Welcome to today’s Republican Party.” On the other hand, Elon Musk responded differently, giving Kanye a welcome to Twitter for Instagram’s block on Ye.

Sources:

Pop Crush: Celebrities React to Kanye West’s Anti-Semitic Tweet

Seeking Alpha: Skechers escorts Kanye West out of LA office after “unannounced” visit

Yahoo Entertainment: Kanye West dropped by Adidas after ‘hateful’ antisemitic comments, Forbes says he’s no longer a billionaire

Forbes: Billionaire No More: Kanye West’s Antisemitism Obliterates His Net Worth As Adidas Cuts Ties

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Inset Image Courtesy of Ming Wu Flickr Page – Creative Commons License