(CNN) — American rapper Kanye West, also known as Ye, has dropped from Forbes’ millionaires list, the magazine said, after several companies withdrew their endorsement of him over anti-Semitic comments.
Several companies have withdrawn their associations with Ye, from Adidas, to Balenciaga, GAP, Creative Artists Agency and social networks such as Twitter and Instagram.
This is how Kanye’s fortune has suffered after his anti-Semitic comments.
When Kanye West made the Forbes millionaires list
In 2021, the 42-year-old rapper, who entered the Forbes millionaires list the year before, had an estimated fortune of $6.6 billion, according to that outlet. His fortune comes from his business in fashion and sports shoes.
By then most of West’s wealth was tied up in his clothing businesses: West’s Yeezy sneaker partnership with Adidas and his clothing line with Gap were worth between $3.2 billion and $4.7 billion combined, according to a UBS report published in February 2021.
But he also had additional assets of $1.7 billion from his investments in his now ex-wife Kim Kardashian’s clothing brand.
And his music catalog for 2021 was valued at $110 million, in addition to having about $122 million in cash and stock, he reported according to Bloomberg.
A fortune gone to less
Following his anti-Semitic comments and the use of a T-shirt with a slogan linked to the Ku Klux Klan, companies such as Balenciaga, GAP and Adidas have ended their endorsement of West in recent weeks. For this reason, the rapper is no longer on the Forbes millionaires list.
Forbes estimated that the Adidas deal represented about $1.5 billion of his net worth, but Forbes now estimates it at just $400 million in its most recent update from October 2022.
Forbes said the remaining $400 million of his net worth came from real estate, cash, his music catalog and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims.
Ye likely still considers himself a billionaire, having long complained that Forbes has underestimated his net worth. When the magazine included him for the first time in its list of millionaires in 2020, he sent a message to the magazine contradicting the figure: “It is not a billion. It’s $3.3 billion, since no one at Forbes knows how to count.”
For this year’s valuation, Ye submitted documents to Forbes stating that his partnership with Adidas alone was worth $4.3 billion, and claimed elsewhere that his net worth was around $7 billion.
— With reporting from CNN’s Chloe Melas, Chris Isidore, Ramishah Maruf and Jordan Valinsky.
(CNN) — American rapper Kanye West, also known as Ye, has dropped from Forbes’ millionaires list, the magazine said, after several companies withdrew their endorsement of him over anti-Semitic comments.
Several companies have withdrawn their associations with Ye, from Adidas, to Balenciaga, GAP, Creative Artists Agency and social networks such as Twitter and Instagram.
This is how Kanye’s fortune has suffered after his anti-Semitic comments.
When Kanye West made the Forbes millionaires list
In 2021, the 42-year-old rapper, who entered the Forbes millionaires list the year before, had an estimated fortune of $6.6 billion, according to that outlet. His fortune comes from his business in fashion and sports shoes.
By then most of West’s wealth was tied up in his clothing businesses: West’s Yeezy sneaker partnership with Adidas and his clothing line with Gap were worth between $3.2 billion and $4.7 billion combined, according to a UBS report published in February 2021.
But he also had additional assets of $1.7 billion from his investments in his now ex-wife Kim Kardashian’s clothing brand.
And his music catalog for 2021 was valued at $110 million, in addition to having about $122 million in cash and stock, he reported according to Bloomberg.
A fortune gone to less
Following his anti-Semitic comments and the use of a T-shirt with a slogan linked to the Ku Klux Klan, companies such as Balenciaga, GAP and Adidas have ended their endorsement of West in recent weeks. For this reason, the rapper is no longer on the Forbes millionaires list.
Forbes estimated that the Adidas deal represented about $1.5 billion of his net worth, but Forbes now estimates it at just $400 million in its most recent update from October 2022.
Forbes said the remaining $400 million of his net worth came from real estate, cash, his music catalog and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims.
Ye likely still considers himself a billionaire, having long complained that Forbes has underestimated his net worth. When the magazine included him for the first time in its list of millionaires in 2020, he sent a message to the magazine contradicting the figure: “It is not a billion. It’s $3.3 billion, since no one at Forbes knows how to count.”
For this year’s valuation, Ye submitted documents to Forbes stating that his partnership with Adidas alone was worth $4.3 billion, and claimed elsewhere that his net worth was around $7 billion.
— With reporting from CNN’s Chloe Melas, Chris Isidore, Ramishah Maruf and Jordan Valinsky.
