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How Ye spends his US$400 million fortune: Kanye West’s billionaire net worth tanked after Adidas cut ties, but he’s still got a serious property empire and a 5 per cent stake in Kim Kardashian’s Skims
STORYBusiness Insider
- The controversial rapper lost a bulk of his money after Adidas and Gap severed contracts with the star for his shocking anti-Semitic remarks on Twitter
- Despite his net worth halving practically overnight, the ‘Gold Digger’ singer can rest assured that his music will still rake in cash via Spotify and Apple Music
After a series of anti-Semitic remarks and “White Lives Matter” stunts, the decision by Adidas to end its deal with Kanye West’s Yeezy brand has slashed his net worth by US$1.5 billion, according to Forbes.
In early October, during his brand Yeezy’s show at Paris Fashion Week, West wore a shirt emblazoned with the words “White Lives Matter” – a phrase that has been linked to various white supremacist groups. Soon afterwards, he posted an anti-Semitic tirade on Twitter.
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The “Gold Digger” singer was dropped by big brands, including Balenciaga, Gap, Vogue and – perhaps most crushingly – Adidas. His record label G.O.O.D. was dropped by Def Jam, per The New York Times, and he’s no longer represented by Creative Artists Agency.
West did not respond to request for comment.
Calculations of West’s wealth have long been muddled by his own exaggerations, but Forbes eventually declared him a billionaire in 2020, following repeated requests from the musician and fashion designer. He’s now lost the long-sought title, but he’s clung onto a healthy US$400 million, per Forbes.
So how exactly does he make and spend his fortune?