In 2020, Kanye West was marked as the second billionaire in Hip-Hop.
The rapper’s stake in Yeezy (adidas) brought him to $1.3 billion, as previously reported by AfroTech.
Back then, Forbes was the outlet to confirm West’s billionaire status. Now, it has been one of the first to report on how his recent actions could jeopardize that same status.
Kanye West V. Corporate America
Recently, West has been outspoken on being anti-Gap and adidas. He took his frustration past verbally when he wrote a letter to Gap declaring that he was ending his partnership with them. The decision was due to numerous factors including a breach of their agreement.
In regards to adidas, he has gone on full-blown rants, claiming the company has wronged him.
“It’s going to cost you billions to keep me. It’s going to cost you billions to let me go,” West said in a now-deleted Instagram post.
See The Deleted Post Below:
Potential Turn Of Events
According to Forbes, if West were to move forward with leaving adidas, he would lose his billionaire status. The outlet estimates that it would “knock his fortune to well below $1 billion.”
The Current Standing With adidas
Forbes estimates that West’s deal with adidas is worth $1.5 billion. It’s also noted that the company reportedly pays him $220 million a year for the right to sell Yeezy sneakers.
Currently, Kanye West’s net worth stands at $2 billion, according to the outlet.
What The Move?
West has yet to make any official moves in regards to adidas, but Bloomberg reported he has a “long-term arrangement with Adidas AG to produce sneakers like the Yeezy Boost 350, which expires in 2026, and an apparel agreement with Gap Inc. that ends in 2030.”
“They my new baby mamas,” West called the partnerships with adidas and Gap. “I guess we’re just going to have to co-parent those 350s.”