Kanye West’s anti-Semitic comments caused billions of dollars in assets to ‘evaporate’
Kanye West’s anti-Semitic comments caused billions of dollars in assets to ‘evaporate’
Kanye West’s fortune is only about 400 million USD after his recent anti-Semitic statement. According to estimates by Forbes magazine, the male rapper’s total asset value before his statement was up to more than 6 billion USD.
Variety gives its opinion on the case of Kanye West : art is sometimes created by terrible, even immoral people, should it be a good idea to consume their work ?
The rapper’s contracts with Adidas, Balenciaga and Gap were terminated following his repeated anti -Semitic comments , leaving his reported net worth at around $400 million.
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Kanye West has stepped down from billionaire status after losing deals with Adidas, Balenciaga and Gap due to his repeated anti-Semitic comments. The 43-year-old rapper once owned assets worth $6.6 billion in March 2021, currently only worth $400 million according to Forbes .
Earlier this month, Kanye West’s Instagram and Twitter accounts were also restricted due to offensive comments about the Jewish community.
Following the end of the deal with Adidas, brand representatives said “West’s recent comments and actions are unacceptable, hateful and dangerous, and they violate the company’s values.” company about diversity, inclusion, and mutual respect in a fair way”.
Gap’s partnership with Kanye West’s Yeezy brand also ended last month. At the time, The Wall Street Journal reported that West’s lawyers initiated the termination.
In addition, according to The New York Times , the music contract of the owner of the song Good Life with Def Jam Recordings ended after the release of the album Donda in 2021. In September 2022, financial company JP Morgan Chase ended the relationship. their business relationship with the rapper, requiring West to transfer his account out of the bank by November 20, BBC reported.
Kanye West and ex-wife Kim Kardashian
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Kanye West’s relationship with Adidas began in 2013 and Forbes reported on October 25 that West’s Adidas deal accounts for $1.5 billion of his net worth even though the rapper claims the contract is actually up to $4 billion. .3 billion USD. Bloomberg news agency also reported similar numbers in March 2021, that the deal was valued at between 3.2 billion and 4.7 billion USD.
Kanye West’s Yeezy brand in collaboration with Gap, announced in 2020, was initially expected to last 10 years, generating $1 billion in annual revenue. However, Yeezy Gap’s store launch date was constantly pushed back and only two products (sold exclusively online) were actually produced before the partnership ended in September 2022, according to The New York Times .
West also signed a contract with Balenciaga to produce a clothing line sold at stores under the Yeezy Gap brand designed by Balenciaga in January 2021. The value of the contract between the male rapper and this high-end fashion brand has not been announced.
Kanye West announced through an interview in September 2022 with Bloomberg news agency that he planned to “go it alone” and end his partnerships with Gap and Adidas. “No one wants to be in a relationship where people can steal their creativity. Now is the time for me to create a new industry. There is no company standing between me and the audience anymore,” West told Bloomberg .
It’s unclear the exact value of West and his record label Good Music’s contract with Def Jam, but it appears the rapper’s music revenue has declined in recent years. West hasn’t completed a full-length tour since his Yeezus tour, which grossed more than $31 million, ended in 2014. His next Saint Pablo tour reportedly grossed more than $51 million, but West canceled nearly The last 20 days of the show were due to stress, exhaustion and had to refund ticket buyers. Last year, West also withdrew from a planned headlining performance at Coachella.
After West ended his deal with Def Jam, the male rapper exclusively released his latest album Donda 2 through a $200 device called Stem Player. Due to the release in a non-traditional package, Billboard did not report album sales or count them in the chart . However, according to Variety , West has sold about 39,500 Stem Players as of February 2022, reaching a revenue of about 7.9 million USD.
Kanye West’s career is plummeting
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It seems that West’s biggest asset right now is real estate with several luxury mansions and the money he makes from selling them. In 2014, West bought a $20 million house in Hidden Hills, California for Kardashian (42 years old) and their children – North (9 years old), Saint (6 years old), Chicago (4 years old), Psalm (3 years old). years) live. Kim Kardashian bought the house from West for $23 million last year just as they were divorcing, according to the New York Post .
Kanye West currently owns a ranch near Cody, Wyoming – Yeezy Campus – purchased in 2019 for $14 million, another $14 million property called Bighorn Mountain Ranch, a giant warehouse near Greybull . ..
In April 2020, Chicago local news station WGN9 reported that West bought his childhood home in the city’s South Shore neighborhood for about $225,000. The house was previously owned by his mother – Donda – who bought it in the early 1980s and sold it in 2004.
A $60 million beachfront property in Malibu was purchased by West last year, a source in the real estate world told People in September 2021. The following month, West is said to have bought another luxury house in Wijnegem, a suburb of Antwerp (Belgium), according to Daily Mail . It is unclear how much the purchase price was.
In December 2021, after Kim Kardashian bought the house in Hidden Hills, Kanye West bought another house across the street for $4.5 million. At the time, sources told PEOPLE that he planned to rebuild the house, although it was unclear whether construction had begun.
