Things seem to be getting worse for Ye. The Grammy award-winning rapper, formerly known as Kanye West, has been dropped by major companies and deals following his antisemitic remarks.
Oct. 10
Instagram and Twitter suspended Ye on Oct. 10 after a series of antisemitic posts that included an Instagrammed screen shot of a text conversation with Sean “Diddy” Combs where Ye accused Diddy of being controlled by Jewish people. On Twitter, the rapper threatened via Twitter to “go death con 3 on JEWISH PEOPLE,” fumbling the “DEFCON” label of the United States’ defense-condition readiness alert system.
The social media platforms removed the posts and suspended his account but they weren’t clear on how long the suspension would be.
Oct. 12
Conservative pundit Candace Owens, who posed in a “White Lives Matter” shirt with Ye in Paris, tweeted that Ye had been “kicked out” by JPMorgan Chase Bank. She included a redacted letter with the subject line “IMPORTANT: Closing of Our Banking Relationship.”
“I was told there was no official reason given, but they sent this letter as well to confirm that he has until late November to find another place for the Yeezy empire to bank,” Owens wrote.
Oct. 16
Ye had a 10-album contract with Def Jam that was fulfilled after the release of “Donda” in August 2021. A person familiar with the deal confirmed that the rapper is now a free agent. The label is also reportedly no longer distributing releases from the rapper’s Getting Out Our Dreams (G.O.O.D.) imprint.
Oct. 19
Ari Emanuel, chief executive of talent agency WME, called for Spotify and Apple to de-platform West.
“Those who continue to do business with West are giving his misguided hate an audience,” Emanuel wrote in an Oct. 19 opinion piece in the Financial Times. “There should be no tolerance anywhere for West’s anti-Semitism.”
Oct. 21
Design house Balenciaga, which had West walking in its Paris Fashion Week show a day before his “White Lives Matter” fashion statement, also cut ties with him. Balenciaga“engineered” his Yeezy Gap collaboration.
“Balenciaga has no longer any relationship nor any plans for future projects related to this artist,” the brand’s parent firm, Kering, said in a brief statement.
Oct. 24
According to the Los Angeles Times, talent agency CAA ended its relationship with Ye this month following his recent antisemitic outbursts in various interviews. CAA had represented the rapper only for touring, and he hadn’t toured since signing with them in 2016.
Shortly after CAA departed ways with Ye, film and television production company MRC declared it would shelve a completed documentary about West rather than distribute it.
“We cannot support any content that amplifies his platform,” MRC executives said in a statement on Oct. 24. “The silence from leaders and corporations when it comes to Kanye or antisemitism in general is dismaying but not surprising. What is new and sad, is the fear Jews have about speaking out in their own defense.”
Oct. 25
Ye’s statements at his Paris Fashion Week show ignited an internal investigation with Adidas. “After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review.”
The rapper-entrepreneur responded on Instagram, writing, “F— ADIDAS I AM ADIDAS ADIDAS RAPED AND STOLE MY DESIGNS.”
Fast forward—when Ye shared a series of antisemitic posts, Adidas decided to immediately cut ties. It said it would immediately stop production of its line of Yeezy products and stop payments to Ye and his companies. It expects to take a hit of up to $246 million to its net income this year from the move.
Another shoe store brand that’s disconnecting from Ye is Foot Locker. The company announced that it was pulling Yeezys from its sales floors and asking employees to hold them in stores’ backrooms pending further instruction, according to Footwear News.
A couple of athletes ended their relationship with Ye on the same day. Boston Celtics star forward Jaylen Brown was one of the big-name athletes who signed with West’s marketing agency, Donda Sports. On Oct. 24, he denounced Ye’s antisemitic comments but said he was sticking with the agency. The next day, he had changed his mind.
“I now recognize that there are times when my voice and my position can’t coexist in spaces that don’t correspond with my stance or my values. And, for that reason, I am terminating my association with Donda Sports,” he said in a statement.
Aaron Donald of the NFL’s Los Angeles Rams also ended his relationship with the agency.
“The recent comments and displays of hate and antisemitism are the exact opposite of how we choose to live our lives and raise our children…,” he and his wife, Erica, said in a statement. “As parents and members of society, we felt a responsibility to send a clear message that hateful words and actions have consequences and that we must do better as human beings.”
According to Forbes, Kanye West is no longer a billionaire. The $1.5 billion value of the Adidas deal was calculated off of a multiple of annual earnings. Based on interviews with industry experts, Forbes had viewed the royalties Ye received from Adidas to be similar to royalties from music catalogs or film residuals.
Without Adidas, Ye is worth $400 million. The remainder of Ye’s fortune, Forbes estimates, comes from real estate, cash, his music catalog and a 5% stake in ex-wife Kim Kardashian’s shapewear firm, Skims.
Losing Adidas was the final nail in Ye’s net-worth coffin.
