Kanye West lost his billionaire status, After the Adidas Deal was canceled
Kanye West has lost a significant amount of money as a result of Adidas pulling the plug, notto mention the other business ventures that have fallen through.
Ye officially lost his billionaire title on Tuesday, according to Forbes, after Adidas ended their partnership with him. Although Adidas may not have completely destroyed his fortune—they claim that a number of projects, including one with Gap, have fallen through recently—Forbes does emphasize that it was a HUGE portion of his wealth and the deciding factor.
After all this controversy, Forbes now asserts that KW is worth around $400 million. When the majority of his public assets were taken into account, his net worth was estimated to be around $1.3 billion, which represents a significant decline from where he was a few years ago.
According to Forbes, the majority of Kanye's wealth currently originates from a small number of sources, including real estate, cash on hand, his music library, and a less than 5% investment in Kim Kardashian's Skims company.
It's unclear how much of his money Adidas alone wiped out, but you have to figure it was a pretty penny's worth given that the firm claims that cutting him/his shoes off has cost it roughly a quarter of a billion dollars in net earnings just in the fourth quarter.
Forbes continues by stating that this marks the conclusion of a protracted and contentious dispute with Kanye on the matter of his billionaire status. Despite the fact that the publication has consistently stood by its estimates, Kanye has always maintained his claim to a higher net worth.
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