Adidas is selling certain Yeezy sneakers to clear off inventory from its association with musician Kanye West, which terminated some months ago.
West, now Ye, worked with Adidas for almost 10 years till Adidas stopped selling his Yeezy trainers in October 2022 owing to his antisemitic comments. Adidas Yeezy trainers are worth over $1 billion, according to The Wall Street Journal. In this article, Adidas’ website indicates that Yeezy purchases would benefit anti-racism and antisemitic organizations.
Forbes listed West as a billionaire in 2022 with a $2 billion net worth. After Adidas dumped him, West’s net worth dropped to $400 million. Forbes estimated that West’s $1.5 billion Adidas deal made up most of his wealth. West’s racist and antisemitic statements and behavior led GAP and Balenciaga to drop him in 2022, according to Women’s Wear Daily.
West wore a “White Lives Matter” T-shirt to Paris Fashion Week in 2022, per People. Hi people. “Kanye West Wears a Shirt That Says ‘White Lives Matter’ to His Yeezy Season 9 Fashion Show in Paris.”
Musical Catalogue
Billboard estimates that West earns $5 million from publishing royalties from his songs, which produce $13.25 million yearly. Billboard. Kanye West Camp Tests Song Catalogue Market, Seeking 35-Times Gross Profit.”
West recorded 12 studio albums and made $31 million and $51 million from his Yeezus and Saint Pablo Tours, according to People.
Cash, Investments
Forbes estimates West has $100 million in cash and liquid investments.
Forbes estimates that West owns 5% of Skims, his ex-wife Kim Kardashian’s shapewear firm, valued at $128 million. Bloomberg valued Kardashian’s Skims at $3.2 billion in January 2022.
- Bloomberg: Kim Kardashian’s Skims Double to $3.2 Billion.”
Real Estate
West owns million-dollar residences in California, Wyoming, and Belgium. The rapper’s crew informed Forbes in 2020 that West owned $81 million in “buildings and improvements” and $21 million in land.
- “Kanye West Is Now A Billionaire.”
- Forbes values West’s two Wyoming ranches at $14 million.
- Kardashian owns the $60 million Hidden Hills house West shared with his ex-wife.
People reported West’s 2021 purchase of a $4.5 million property across the street. West paid over $57 million for a coastal property in 2021. Last summer, TMZ reported that the mansion had been gutted and was still being renovated.
Kanye West: $400M
His 2004 debut, The College Dropout, sold 10 million copies and became a rap classic. Despite his psychological turmoil, the artist is a skilled businessman. According to Hypebeast, his Yeezy clothing company and Adidas-partnered Yeezy Boost 350 made him millions. In 2022, he teamed with Balenciaga and Gap on the Yeezy Gap Engineered line. These collaborations ended last year after his anti-Semitic social media posts.
Kanye West Left Forbes Billionaires List: Why?
After proving his wealth with documentation, Kanye West joined Forbes’ World’s Billionaires list in 2020 after years of lobbying. Though contentious, the rapper has fallen off after three years. Adidas ended its lucrative Yeezy footwear contract with West, which made up most of its riches, in October 2022 after antisemitic remarks.
West, known as Ye, spent much of 2022 ranting against Jews. His October “Death con 3 on Jewish People” tweet got his Twitter account suspended, and other antisemitic slurs got him blacklisted on Instagram. In October, hundreds of thousands of social media users urged Adidas to discontinue their nearly decade-long Yeezy trainers contract and fire Ye. “I can say antisemitic s—- and Adidas cannot drop me,” Ye said on the Drink Champs podcast in October.
Adidas canceled their agreement on October 25 after Ye baited them. Adidas lost $535 million in expected operating profit due to a stack of unsold Yeezys, but Ye lost $1.5 billion and was promptly pushed off Forbes’ list of the World’s Billionaires.
The rapper’s self-inflicted demise ended with that net worth blow. The Adidas collaboration propelled him to billionaire status in 2020 with $1 billion. It was a triumph for Ye, who began collaborating with Adidas on Yeezy in 2013. The 2021 and 2022 estimates for Ye were $1.8 billion and $2 billion. Always feeling undervalued, he complained about his net worth. “It’s not a billion,” he emailed a Forbes editor following his 2020 debut. “No one at Forbes can count, so it’s $3.3 billion.”
Forbes estimated the Adidas contract at $1.5 billion in 2022 based on Ye’s royalties. Forbes treated Ye’s arrangement like film residuals or music royalties because it was pure income dependent on sales targets. Some say Ye’s Adidas income may be auctioned, like Bob Dylan and Bruce Springsteen’s music catalogs for hundreds of millions.
He is projected to be worth $400 million without Adidas. His ties with Gap and Balenciaga ended in the month before the Adidas deal collapse, but neither made up a substantial chunk of his riches. His $100 million cash and liquid investments, $130 million music catalog, and $128 million 5% ownership in ex-wife Kim Kardashian’s shapewear brand Skims remain. A Skims spokesman told Forbes in October 2022 that Ye had left the company since its 2019 launch. Ye’s catalog may be worth less than Forbes estimates because of royalties and a cooling music catalog market.
Does Kanye West have a Billionaire Status?
Kanye West’s net worth is a fascinating story of fortunes changing from 2022 billionaire to quarter billionaire. Despite these financial challenges, Mr. West remains determined. His difficult past has only spurred his ambition to redefine success. Kanye may return to billionaire status in the future. His tenacity and imagination make it a compelling possibility.
Which is Wealthier, Drake or Kanye West?
Despite Drake’s success, Kanye West’s net worth is higher (albeit Drake may have the “bigger pool”). West’s wealth, mostly from the Adidas collaboration, shows his financial savvy. However, their competition is intriguing. Drake, with his unique success and famed competition, may eventually challenge West’s fiscal domination.
The end of West’s Adidas deal may cause it. Even though they fight, they both master wealth. Can Drake beat wealth inequality? Will Kanye’s wealth remain untouchable? Their financial rivalry will continue, fascinating.
Net Worth Estimate for Kanye West: $1.8 Billion By 2024
Kanye West, a controversial musician, is expected to be worth $1.8 billion in 2024. Yeezy, his Adidas collaboration, made him a fortune. West becomes wealthier through music creation, fashion, and real estate investments.
After Breaking Up with Adidas and Gap, Kanye West’s 2024 Net Worth
Kanye West is smart, creative, and multidimensional. Mental illness may have caused him many problems in his personal and professional life.
West’s successful Adidas and Gap Yeezy brand collaborations, which made him rich, ended in autumn 2022 after a series of antisemitic outbursts and ‘White Lives Matter’ protests.
In 2016, West claimed that he owed $53 million and asked Mark Zuckerberg to donate $1 billion to his “Kanye West ideas.” No matter if Facebook’s founder declined, West got there.
West—or Ye, as he has officially changed his name—is one of the best rappers and producers of his generation, but he is also notorious for his erratic conduct, which is often aggravated by his bipolar disease. His failed 2020 presidential campaign and the 2009 MTV Video Music Awards interruption of Taylor Swift are examples. His romantic life has also garnered attention. His marriage to Bianca Censori and divorce from Kim Kardashian have raised questions about his finances and life.
Everything we know about Kanye West’s wealth and how he got it. He earned millions from his tours and Yeezy fashion line after starting with $5,000 for a Jermaine Dupri track.
What Will Kanye West be Worth in 2024?
Ye once had a $2 billion net worth. With a B! After the German business ended the deal, Forbes valued his net worth at $400 million, with his Yeezy brand with Adidas accounting for $1.5 billion.
Kanye West’s Adidas Pay?
Forbes estimates West’s Yeezy cooperation with Adidas earned $220 million annually. How much does Adidas pay him on October 25, 2022? Not much due to his antisemitism.
“Adidas does not tolerate antisemitism and any other sort of hate speech,” it said. Ye’s recent outrageous, insulting, and dangerous comments and actions breached the company’s values of diversity, inclusiveness, mutual respect, and justice. After rigorous investigation, the company has chosen to immediately cancel its partnership with Ye, stop making Yeezy products, and stop paying Ye and his enterprises. Adidas has halted Yeezy production immediately.
Conclusion
Kanye West’s $500 million fortune reflects his creativity, hard work, and dedication. Kanye has shaped the entertainment business with his pioneering music and apparel brand. If Kanye West keeps pursuing new endeavors, his net worth will be a matter of discussion for years to come.