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Kanye West is convinced he will recover his losses from the severed Adidas partnership. As AFROTECH™ previously told you, the apparel giant severed its ties with the rapper and record producer in 2022 due to antisemitic remarks West made at the time. As a result, Adidas paused the production of all Yeezy-branded products and froze payments to West and his companies. “Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect, and fairness,” the company declared in a press release . “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products, and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.” In May 2023, Adidas softened its posture, announcing the company...
Kanye West has been making headlines over his public battle with corporations for weeks now. As AfroTech previously reported, Kanye West recently declared it was time to cut ties with Gap and adidas and go at it alone. “It’s time for me to go it alone,” West told Bloomberg. “It’s fine. I made the companies money. The companies made me money. We created ideas that will change apparel forever. Like the round jacket, the foam runner, the slides that have changed the shoe industry. Now it’s time for Ye to make the new industry. No more companies standing in between me and the audience.”
In 2020, Kanye West was marked as the second billionaire in Hip-Hop. The rapper’s stake in Yeezy (adidas) brought him to $1.3 billion, as previously reported by AfroTech. Back then, Forbes was the outlet to confirm West’s billionaire status. Now, it has been one of the first to report on how his recent actions could jeopardize that same status.