Kanye West's 'Antisemitic Sh*t' Just Cost Him $1.5 Billion & His Net Worth Is Cratering
Kanye West's net worth is officially in free fall, as major brands abandon him over racist remarks that he's repeatedly refused to apologize for.
The rapper and would-be fashion designer officially dropped off Forbes' billionaire list on Tuesday, when Adidas announced that it was done with Ye and his Yeezy shoe brand.
Here's what you need to know about Kanye's rapidly-shrinking business empire, and how we got here in the first place.
What did Kanye West say?
Kanye West's current blow-up dates back to Paris Fashion Week in early October, when he wore a "White Lives Matter" shirt to a show.
Fans and celebs criticized the move, and he responded by lashing out at many of them including Kim Kardashian, Justin Bieber and Gigi Hadid.
He later shared several posts on social media involving Jewish people and various conspiracy theories.
In one case, he said he would go "death con 3" on "JEWISH PEOPLE."
He's repeated similar claims in interviews and social media posts since then, prompting Instagram and Twitter to restrict his accounts.
What is Adidas saying about Kanye?
\u201cListen to Kanye here: "the thing about it being Adidas I can say antisemitic things and Adidas can't drop me ... now what ... now what ..." @adidas\u201d— StopAntisemitism (@StopAntisemitism) 1666285249
Adidas dropped Kanye West on Tuesday amid pressure to do so from much of the public.
"Adidas does not tolerate antisemitism and any other sort of hate speech," the brand said in a statement. "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 move came after Kanye declared last week that Adidas would never drop him for "antisemitic sh*t."
How much did Adidas pay Kanye?
Adidas says cutting ties with Ye will cost it €250 million (US $246 million) this year alone.
On Tuesday, Forbes reported that the Adidas deal accounts for $1.5 billion of Kanye's net worth.
What is Kanye West's net worth?
Forbes estimates that Kanye West's net worth is about $400 million after losing the Adidas deal.
That includes assets such as cash, real estate and his music catalog.
It also includes a 5% stake that he holds in SKIMS, the brand owned by his ex-wife, Kim Kardashian.
Who else cut ties with Kanye West?
Adidas, Balenciaga, Vogue and The Gap have dropped Ye in recent days.
His former talent agency, CAA, also dropped him as a client.
MRC, a film and TV studio, says it will not released a fully completed documentary about Kanye in light of what he's been saying.
What has Kim Kardashian said about Kanye West?
Kim Kardashian tweeted on Monday that "hate speech is never OK or excusable," although she didn't mention her ex-husband by name.
"I stand with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end."
The tweet that was removed.