Rapper Ye’s feud with corporate partners cost him his billionaire status, according to Forbes.
In recent weeks, Ye – aka Kanye West – has seen brands Balenciaga, Gap and, more recently, Adidas end business relationships with him over anti-Semitic remarks and for wearing a T-shirt with a slogan linked to the Ku Klux Klan.
On Tuesday, Forbes, one of the top wealth trackers among the world’s financial elites, declared that it had dropped Ye from its list of billionaires. He estimated that the Adidas deal represented $1.5 billion of his net worth, but Forbes now estimates it at a mere $400 million.
Forbes said the remaining $400 million of his net worth comes from real estate, cash, his music catalog and a 5% stake in ex-wife Kim Kardashian’s shapewear company Skims.
Of course, Ye is likely still considering himself a billionaire, as he has complained for years that Forbes was underestimating his net worth. Forbes reported that in 2020 — when it first listed him as a billionaire — he sent a message to the magazine saying, “It’s not a billion. That’s $3.3 billion, as no one at Forbes can count.”
For this year’s valuation, Ye submitted documents to Forbes claiming his partnership with Adidas was worth $4.3 billion and claimed elsewhere that his net worth was around $7 billion.
CNN reached out to a representative for West for comment.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
