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

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.

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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.

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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.

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