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Kanye West Claims He Lost $8B From Adidas — However, The Rapper Says He's ‘Still Going To Get That Money Back’

Kanye West is convinced he will recover his losses from the severed Adidas partnership. As AFROTECH™ previously told you, the apparel giant severed its ties with the rapper and record producer in 2022 due to antisemitic remarks West made at the time. As a result, Adidas paused the production of all Yeezy-branded products and froze payments to West and his companies. “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 company declared in a press release . “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.” In May 2023, Adidas softened its posture, announcing the company...

Mar 19, 2024

Adidas Slashes Losses By Over $300M After Yeezy Merchandise Sales

Once again, Adidas has proven to benefit from the popularity of Yeezy.

Oct 18, 2023

Adidas Profited Nearly $437M In Revenue From Yeezy Merchandise In Q2

Yeezy’s departure from Adidas isn’t slowing down Kanye West’s success with the company.

Aug 3, 2023

Kanye West Reportedly Made Over $25M From Adidas' First Release Of Unsold Yeezy Products

Even though Kanye West’s partnership with Adidas is over, he is still reaping the benefits.

Jun 5, 2023

Adidas Will Sell Existing YEEZY Products Since It Was 'The Preferred Option Among All Organizations And Stakeholders'

Adidas has officially set plans in motion to get rid of some of its remaining YEEZY merchandise.

May 19, 2023

Adidas CEO Says Dropping Kanye West's Yeezy Is 'Hurting Us,' And North American Sales Are Down 20%

Is Adidas in its comeback season? It’s a bit hard to say with the CEO forecasting a “bumpy year with disappointing numbers” ahead.

May 8, 2023

Adidas Announces $540M Loss Due To Unsold Yeezy Products In Its Final 2022 Quarter

After cutting ties with Kanye West , Adidas has suffered a huge operating loss.

Mar 9, 2023

Kanye West Says He Owes The IRS $50M — 'They Were Trying To Put Me In Prison This Morning'

Kanye West is still making headlines, and not for good reason. On a recent podcast episode, West says he could have gone to prison for owing $50 million to the IRS.

Nov 29, 2022

Kanye West Allegedly Once Fired A Yeezy Worker For Asking To Listen To Drake, Report Says

Employees have stepped forward with claims of what it’s like to work under Kanye West.

Nov 10, 2022

Kanye West's Unaccredited K-12 School Donda Academy Shuts Down

The bells will no longer be ringing in the halls of Kanye West’s Donda Academy.

Oct 27, 2022

Kanye West Is No Longer A Billionaire, According To Forbes

Kanye West’s billionaire status may be a thing of the past.

Oct 25, 2022

adidas Cuts Ties With Kanye West, Could Have A 'Short-Term Negative Impact' Of Nearly $247M

adidas has officially severed ties with billionaire Kanye West.  

Oct 25, 2022

Balenciaga Has Called It Quits With Black Billionaire Kanye West — Here's Why

Kanye West is learning first hand he has the right to exercise his freedom of speech, but that doesn’t rid him of the consequences of doing so.

Oct 21, 2022

JPMorgan Chase Calls It Quits With Kanye West And The Billionaire Responds: 'I Feel Happy To Have Crossed The Line'

Kanye West will need to find a new bank for his Yeezy empire because his banking relationship with JPMorgan Chase has reached the finish line.

Oct 13, 2022