It’s a season of losses for American rapper Kanye West, but then he appears to be the architect of the strings of misfortune that have befallen him recently, one of which is Adidas cutting ties with him.
The rapper provoked a global uproar recently over his antisemitic comments. Amid the uproar, he had described himself as also a jew. But it didn’t stop there. He went on to make more comments which were dubbed as antisemitic as well.
He had also reportedly boasted that his deal with Adidas was in force and that the global sportswear brand had not dropped him. The umbrage this provoked probably caused Adidas to act finally. The brand announced it was cutting ties with the songster.
The result of the cutting of ties was instant and massive. It wiped out a great chunk of Ye’s wealth, tossing him from billionaire to a millionaire.
Before trouble broke out, Adidas had a €250m partnership with Ye, one of the biggest brand deals out there. Amid his antisemitism, the brand released a statement in which it noted that Ye’s recent outbursts were “unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.”
It promised to release more information as part of its Q3 earnings in November.
