Kanye West no longer a billionaire after Adidas, GAP sever ties

Rapper Kanye West has been at the receiving end of one bad news after another since he passed anti-Semitic remarks during a conversation with Chris Cuomo on NewsNation. Forbes now reports that after GAP and sportswear brand Adidas decided to end their contracts with West, he is no longer a billionaire.

Adidas, while announcing the termination of the deal they had with West, said that the company “does not tolerate antisemitism and any other sort of hate speech” and called West’s comments “unacceptable, hateful and dangerous.”

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The Germany-based company also added that West’s comments are against its principles of “values of diversity and inclusion, mutual respect and fairness.”

GAP has also released a statement saying that it is removing all Yeezy GAP products from its stores. The statement read, “In September, GAP announced ending its Yeezy GAP partnership. Our former partner’s recent remarks and behavior further underscore why. We are taking immediate steps to remove Yeezy GAP product from our stores and we have shut down YeezyGAP.Com,” further adding, “Antisemitism, racism and hate in any form are inexcusable and not tolerated in accordance with our values. On behalf of our customers, employees and shareholders, we are partnering with organizations that combat hate and discrimination.”

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GAP and Adidas are not the only brands to cut ties with West post his remarks. Balenciaga has also cut its business relations with the 45-year-old. The talent agency CAA has dropped him as a client while Def Jam Records has also ended its contract with him. JPMorgan Chase has dropped the Donda hitmaker as a client.

West’s former wife, Kim Kardashian, along with a number of members of her family, has spoken out on social media against his anti-Semitic remarks despite not naming him directly in their posts.

The Chainsmokers announced this week that they are removing a song where they had said that they wanted to be like Kanye West from all streaming platforms.