Kanye West has lost his spot on the Forbes billionaires’ list after Adidas ended its partnership with the rapper. The contract with the German sportswear company accounted for around 1.5 billion dollars (£1.3 billion), according to the US business magazine.
Adidas has faced pressure to cut ties with West, who has legally changed his name to Ye, over his antisemitic remarks on social media. In a statement on Tuesday, the company condemned the rapper’s comments as “unacceptable, hateful and dangerous”.
Earlier this year West was ranked number 1513 on Forbes’ rich list, valued at two billion dollars (£1.5 billion) due to his lucrative fashion brands and a multi-year deal to design his trainer brand Yeezy for Adidas. Following the ending of the partnership, Forbes estimated his value to be 400 million (£349 million) – stemming from “real estate, cash, his music catalogue, and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims”.
