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Kanye West has become a controversy magnet in the last few weeks. Brands continue to dissociate from him.
Amongst those that have followed in the footstep of adidas terminating its partnership with Ye is Foot Locker. Foot Locker has released an internal message to its staff in stores that they will no longer be stocking YEEZY shoes.
Foot Locker, Inc. does not tolerate any form of antisemitism, or hateful and discriminatory behavior. While we remain a partner with Adidas and carry a wide assortment of their collections—we will not be supporting any future Yeezy product drops, and we have instructed our retail operators to pull any existing product from our shelves and digital sites.”Foot Locker
Not only has the fallout with adidas escalated the decisions of other retailers to drop Ye’s products, but the loss of the deal has also caused Ye to no longer be a billionaire.
According to Forbes‘ most recent report, the publication took a closer look at Ye’s current net worth. After adidas dropped Ye, Forbes indicated that the move caused the designer’s net worth to take a major hit.
Ye has now lost an estimated $1.5 billion USD, which was the cost of the deal. Currently, Ye’s net worth has been brought down to $400 million USD, the remaining assets from his extensive music catalog, liquidity in cash, non-liquid real estate and a reported 5% share of Kim Kardashian‘s Skims brand.
In a more than 2 hours “Drink Champs” podcast episode aired earlier this month by Revolt TV, the rapper made numerous outrageous comments that caused actual financial repercussions for him and his brand partners. On the podcast, Kanye said,
I can say antisemitic things, and Adidas can’t drop me. Now what?”YE
He also suggested George Floyd died from a fentanyl overdose rather than police brutality.
Earlier this month YE tweeted to say he was-
“going death con 3 ON JEWISH PEOPLE” before alleging he wasn’t “Anti Semitic because black people are actually Jew also”.
He added: “You guys have toyed with me and tried to black ball anyone whoever opposes your agenda”.
The post has since been removed.