Kanye No Longer A Billionaire After Adidas Ends Deal

Forbes reports:

Adidas gets an estimated 4% to 8% of its sales from Yeezy products, according to investment bank Cowen. For Ye, it was an even bigger deal, accounting for $1.5 billion of his net worth.

The $1.5 billion value of the Adidas deal was calculated off of a multiple of annual earnings. Based on interviews with industry experts, Forbes had viewed the royalties Ye received from Adidas to be similar to royalties from music catalogs or film residuals.

Without Adidas, Ye is worth $400 million. The remainder of Ye’s fortune, Forbes estimates, comes from real estate, cash, his music catalog, and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims.

Read the full article.

JUST IN: Billionaire No More: Kanye West’s Anti-Semitism Obliterates His Net Worth As Adidas Cuts Ties https://t.co/sZR4uiB6rx by @lisettevoytko

— Forbes (@Forbes) October 25, 2022

The corporate divorce has instantaneously obliterated West’s status as a billionaire, Forbes reports; it now pegs his net worth at $400 million. https://t.co/i0rMar3u52

— The Daily Beast (@thedailybeast) October 25, 2022