Adidas Cuts Ties With Kanye West

Adidas has announced its decision to cut ties with Ye, formerly known as Kanye West, following his anti-Semitic remarks.

Illustration: Francis Scialabba, Photo: Taylor Hill/Getty Images

“After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.” Adidas said.

Ye recently took to Twitter and Instagram and posted that he would go “death con 3” on “JEWISH PEOPLE,” a statement that many believe refers to the United States military defense readiness system, Defcon.

The post has since been removed by both platforms saying Ye violated their respective policies and rules. 

Adidas has also made it clear that it doesn’t support any form of hate speech terming Ye’s statements as unacceptable, hateful and dangerous saying, “… they violate the company’s values of diversity and inclusion, mutual respect and fairness.”

The company has also forecasted that ending this partnership will eat into approximately €250 million in the company’s net income for 2022. 

Forbes has already come out to say that ending this deal means that Ye is off the Billionaire’s list. With Adidas out of the picture, Ye is reportedly worth $400 million courtesy of his real estate ventures, music career and shares in Kim Kardashian’s company, Skims.

JUST IN: Billionaire No More: Kanye West’s Anti-Semitism Obliterates His Net Worth As Adidas Cuts Ties https://t.co/sZR4uiB6rx by @lisettevoytko

— Forbes (@Forbes) October 25, 2022

Ye and Adidas made public the $1.5 billion partnership back in 2016 a move that was popularly termed as “The Most Significant Partnership Ever Created Between an Athletic Brand and a Non-Athlete.’

Follow me on Twitter