Adidas Ends Partnership With Kanye West Who, As A Result, Is No Longer A Billionaire

Published|Updated

Adidas is expected to end its partnership with Kanye West, according to reports. The decision comes after a string of controversial moves and statements from Ye, including anti-semitic remarks.

According to Bloomberg, Adidas could announce its plans to cut ties with West as early as Tuesday after his "string of controversies." West has worked with Adidas since 2016.

The report of Adidas ending things with Ye comes just a couple of weeks after the company announced it was reviewing its partnership. The announcement of the review came shortly after West wore a 'White Lives Matter' shirt at a fashion show in Paris. He also called Black Lives Matter a scam.

KANYE WEST GETS HONEST ABOUT WHY HE WORE A ‘WHITE LIVES MATTER’ SHIRT

Kanye West Wears 'White Lives Matter' Shirt, Says BLM 'Scam' Now Over

Kanye West and Candace Owens wear 'White Lives Matter' shirts at a fashion show. Instagram/Candace Owens

Days after being ridiculed for wearing a 'White Lives Matter' shirt, West went on an antisemitic rant on Twitter. One of his tweets read that he was "going death con 3 on JEWISH PEOPLE." His account was locked after that tweet for violating Twitter's policies.

Various companies including Balenciaga have ended their relationships with Ye. Banking giant JP Morgan has even reportedly banned West from using its banking services.

KANYE WEST BANK BAN IS AN INDEFENSIBLE SLIPPERY SLOPE

Recent controversies aside, West reportedly told Bloomberg he didn't want to work with Adidas after his contract expired as he wanted to enter the fashion world independently.

According to Forbes, West's original deal with Adidas saw him earn 15% royalty on wholesale revenue. He reportedly made over $190 million in royalties in 2020.

Adidas' stock has dropped 6% since the report of the company dropping West was released. Forbes also reported that West has lost his billionaire status after losing his deal with the apparel brand.

Tags
Written by

Mark covers all sports at OutKick while keeping a close eye on the world of professional golf. He graduated from the University of Tennessee-Chattanooga before earning his master's degree in journalism from the University of Tennessee. He somehow survived living in Knoxville despite ‘Rocky Top’ being his least favorite song ever written. Before joining OutKick, he wrote for various outlets including SB Nation, The Spun, and BroBible. Mark was also a writer for the Chicago Cubs Double-A affiliate in 2016 when the team won the World Series. He's still waiting for his championship ring to arrive. Follow him on Twitter @itismarkharris.