Speed Reads

Cue world's smallest violin

Kanye West no longer a billionaire after Adidas cuts ties

Kanye West's empire has now crumbled to the point that he is "no longer a billionaire," Forbes reported.

The rapper, who is legally known as Ye, officially lost his billionaire status on Tuesday when he was dropped by Adidas — in addition to several other brands including Gap and Balenciaga — for making antisemitic statements.

Earlier in the month, Adidas shared that its partnership with Ye was "under review," Billboard notes, after comments he made on the Drink Champs podcast: "[T]he thing about it being Adidas is, like, I can literally say antisemitic s--t and they can't drop me," Ye said. "I can say antisemitic things and Adidas can't drop me. Now what?" The episode has since been removed for the string of other unrelated "false and hurtful" remarks he made on topics such as the death of George Floyd, The Hollywood Reporter notes.

"Losing Adidas was the final nail in Ye's net-worth coffin," Forbes writes, adding that without the athletic company, he's now only worth $400 million. A source close to Skims — Ye's ex-wife Kim Kardashian's brand — reportedly told Forbes that most of the rapper's wealth now derives from real estate, cash, music, and his 5 percent stake in Skims.

In addition to those dissolved brand deals, production company MRC recently shared that it wouldn't be putting out a completed documentary on him, Forbes reported.