On Tuesday, Forbes confirmed that Ye has lost his billionaire status as multiple companies are distancing themselves from the rapper, who has won 24 Grammy Awards.
The Adidas deal helped make Ye a billionaire and aided the German sportswear company in having a more edgy appeal.
However, the collaboration could not survive the recent outcry over the rapper’s offensive and antisemitic remarks.
In making the decision to immediately stop production of its line of Yeezy products and stop payments to Ye and his companies— Adidas says it expects to take a hit of up to $246 million to its net income for 2022.
Forbes estimated that Adidas accounted for $1.5 billion of Ye’s net worth effectively kicking him out of the ten-digit club.
The split-up comes on the heels of Gap Inc. announcing in September it would dissolve their partnership with West.
Additionally, according to reports, the talent agency CAA has dropped West as a client.
