Kanye West is no longer a member of the ten-digit club — he’s lost a fortune as a result of Adidas pulling the plug … not to mention the other partnerships that have dissolved.
Forbes made it official Tuesday … saying Ye had lost his billionaire status in the wake of Adidas ending their partnership with the guy. While Adidas on its own might not have technically torpedoed his billions — they say it’s a combination of several deals, including Gap, falling apart of late — Forbes does note it was a HUGE part of his wealth, and the final nail in the coffin.
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Adidas Ends Kanye West, Yeezy Partnership
Now — after all this fallout — Forbes claims KW is worth somewhere in the ballpark of $400 million. This is a huge dip from where he was a couple years ago, when his net worth was valued at around $1.3 billion with a majority of his public assets in consideration.
The majority of Kanye’s riches are now coming from a select few sources, Forbes says, including real estate, liquid cash, his music catalog and a less than 5% stake in Kim Kardashian‘s Skims brand.
Unclear how much of his money was wiped out by just Adidas, but ya gotta imagine it was a pretty penny’s worth … considering the company says they’re losing nearly a quarter of a billion dollars in net profits by cutting him/his shoes off, just in this fourth quarter alone.
Forbes also goes on to note that this is the end of a long and acrimonious saga they’ve endured with Kanye pertaining to his billionaire title … he’s always claimed he was worth more than what they pegged him at, even though the outlet’s stood by its findings.