Kany West loses $1 billion after recent scandal

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Kany West loses $1 billion after recent scandal

The recent controversies surrounding Kanye West have led to him losing two thirds of his wealth and his position on Forbes magazine’s list of billionaires.

The magazine estimates that the loss of the Ye’s Adidas partnership, which was announced yesterday, cuts his net worth from $1.5bn to $400m.

Clothing giant Adidas cut ties with Ye on Tuesday, dismantling what it previously said was one of the most successful collaborations in the company’s history.

As a result, cutting the partnership means Adidas will go from a profit making company to recording a net loss of $250m in 2022.

Meanwhile, Ye’s sports agency has also taken a massive hit after 2 of its biggest names, NFL player Aaron Donald and Boston Celtics star Jaylen Brown terminated their contracts with the agency.