A few months after Adidas terminated its partnership with Kanye West, the firm is releasing some of its Yeezy sneakers aiming to sell off remaining inventory from its already defunct partnership with the rapper.
West, now known as Ye, partnered with Adidas for nearly 10 years, until the athletic apparel and footwear brand called off its partnership with him last October, stopping the sale of West’s popular Yeezy sneakers because of his anti-Semitic remarks.
Based on a report by The Wall Street Journal, the remaining inventory of Adidas Yeezy sneakers is worth over $1 billion. Adidas’ official site says that some of the sales from Yeezys will be donated to support several organizations that fight racism and anti-semitism.
In 2022, Kanye West had a net worth of $2 billion, as published by Forbes, and he was featured on their billionaires list. But, his net worth plummeted to $400 million after Adidas terminated business with him – West’s deal with the giant apparel company was valued at about $1.5 billion and made up most of the singer’s fortune, as mentioned by Forbes.
Clothing company GAP and designer Balenciaga also terminated their business with Kanye West in 2022 because of the anti-semitic and racist comments he made and his behavior, according to Women’s Wear Daily. The rapper was seen wearing a “White Lives Matter” T-shirt at Paris Fashion Week later in 2022, as published by ‘People.’
The songs in West’s music catalog generate around $13.25 million in publishing royalties annually, with West’s share earning him $5 million each year, according To Billboard. The rapper released 12 studio albums in his career, and earned $31 million and $51 million from the Yeezus and Saint Pablo Tours, respectively, as highlighted by People magazine.
Investments And Cash
Kanye West has an estimated $100 million in cash and liquid investments, based on a statement by Forbes. He also owns a 5% stake in his ex-wife Kim Kardashian’s shapewear brand, Skims, worth around $128 million, according to reports by Forbes. Kardashian’s Skims had a total valuation of $3.2 billion as of January 2022, according to Bloomberg.
The rapper has a real estate portfolio worth millions, and owns luxurious properties in Wyoming, California, and Belgium.
In 2020, Kanye West’s team told Forbes that he owns $81 million in “buildings and improvements” and another $21 million in land. The rapper is also said to own two ranches in Wyoming, worth about $14 million, based on reports by Forbes.
While the $60 million Hidden Hills estate that West shared with his ex-wife is owned by Kardashian, he acquired a $4.5 million home across the street from her in 2021, based on a publication by ‘People.’ Kanye also purchased a beachfront property in 2021 for over $57 million. But, based on TMZ reports, this home has been gutted and is in the process of a whole renovation that was yet to be completed as of last summer.