According to Forbes, the rapper officially known as Kanye West is "no longer a millionaire."
The news comes only days after Adidas announced the immediate termination of its contract with Ye following a series of anti-Semitic statements. Ye is worth an estimated $400 million without the Adidas agreement, which is valued at $1.5 billion, according to the outlet. In a recent Piers Morgan interview, Ye stated that he has "maybe just $120 million" in his account.
"Adidas does not tolerate antisemitism or any other sort of hate speech," a business representative stated in a press release sent on Tuesday, adding that Ye's recent words were "unacceptable, hateful, and dangerous." Adidas, as previously reported, formally placed the Yeezy partnership "under review" earlier this month.
Many other partners, like Balenciaga, have also separated themselves from Ye. Additionally, The Shop said earlier this month that it will not run an interview with Ye. SpringHill Company CEO and Shop co-host Maverick Carter said in a statement to Landscape that Ye had used this potential appearance "to reiterate more hate speech and extremely dangerous stereotypes."