Adidas had ended its partnership with Ye, also known as Kanye West, with “immediate effect.”
Kanye West made some comments in a podcast that saw him overestimate Adidas’ loyalty to him irrespective of any offensive statement he makes.
However, the German sports giant decided to cut ties with Ye after a video of his comments circulated on social media.
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What did Kanye West say to get dropped by Adidas?
On October 24, 2022, Adidas decided to end its partnership with Kanye West after he passed a series of antisemitic comments.
Ye, formerly known as Kanye West, made these comments on the October 16, 2022, episode of Drink Champs, which is a hip-hop community podcast hosted by N.O.R.E and DJ EFN.
In the short video clip taken from the interview, Kany stated: “I can say antisemitic things, and Adidas can’t drop me. Now what? Now what?”
What did Adidas say about Kanye West’s comments?
The German sports giant made a statement addressing Kanye’s comments saying: “Adidas does not tolerate antisemitism and any other sort of hate speech.
“Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.”
The statement continues: “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.”
It concluded: “This is expected to have a short-term negative impact of up to $246million on the company’s net income in 2022 given the high seasonality of the fourth quarter.”
Kanye West net worth
According to Celebrity Net Worth, Kanye, also known as Ye, has a net worth of approximately $4billion, as of the time of writing.
While his music, tours, and merchandise made him a multi-millionaire, it was his fashion brand, Yeezy, which put him into the billionaires club,
The Yeezy brand, which Ye owns outright, is estimated to be worth around $5billion, and its previous collaboration with The Gap was estimated to be worth around $1billion.
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