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Kanye West Has Lost $1.2 Billion In A Few Weeks And Is No Longer A Billionaire

Celebrity

Kanye West Has Lost $1.2 Billion In A Few Weeks And Is No Longer A Billionaire

A major financial loss like never before.

The onslaught against Kanye West after his controversies saw a huge financial backlash as the “Donda” rapper is expected to lose over $1.2 billion net worth. Nobody knows if Ye will ever be able to creep back up from the financial blow, but he’s currently seeking to sue one of the brands he worked with.

He’s no stranger to making controversial remarks on his social media and has been repeatedly suspended and warned on the platforms for violating their policies with his posts.

The 45-year-old dad of four was hospitalized for psychiatric reasons in 2016 and went on to send a barrage of online attacks and make derogatory remarks about Kim Kardashian’s then-boyfriend, Pete Davidson.

People have been calling out on his disturbing comments, such as “slavery is a choice” and claiming that George Floyd died from an overdose.

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He launched “White Lives Matter” shirts on his latest Yeezy fashion show, shocking fans, and viewers at the surprise event. Candace Owens made a clear appearance and showed her support for West’s choice of apparel design.

But it seems that even his fans couldn’t tolerate him anymore, with his latest controversy being the antisemitic comments on Instagram and Twitter.

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He tweeted, “I’m a bit sleepy tonight but when I wake up I’m going death con 3 On JEWISH PEOPLE … The funny thing is I actually can’t be Anti Semitic because black people are actually Jew also … you guys have toyed with me and tried to black ball anyone whoever opposes your agenda.”

Over the next few hours to days, West loses several deals with major brands, notably with GAP and Balenciaga. Piers Morgan later asked if he regretted the tweet a day ago, and the rapper called himself a “freedom fighter.”

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“No – absolutely not, absolutely not … I fought fire with fire – I’m not here to get hosed down – that’s a different type of freedom fighter.”

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He added, “I will say I’m sorry for the people that I hurt. I feel like I cause hurt and confusion, and I’m sorry for the families of the people that had nothing to do with the trauma that I had been through and that I use my platform where you say, “Hurt people hurt people,” and I was hurt.”

His tweets led to an unknown group saluting Adolf Hitler on 405 Freeway and putting up banners that said, “Kanye is right about the Jews. Honk if you know.”

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Now the consequences are snowballing as one after another brand cut him off. Talent agency CAA has dropped the rapper, and Johnny Depp’s lawyer Camille Vasquez has refused to work with him. His $1.5 billion contract with Adidas had earned him close to $200 million for royalty in 2020 alone.

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He also had a fallout with Anna Wintour of Vogue and won’t be featured in their series anymore as Gap, Balenciaga, and the latest being Adidas, cut off their million dollars partnership with him. Forbes predicted that this financial fallout would be the biggest yet, kicking him out of the billionaire list in the near future.

Fans are also announcing their discontentment, refusing to purchase or listen to his music anymore.

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West has over 140 million albums sold worldwide, and his publishing rights alone are worth at least $90 million. Currently, he has around 50 million listeners on Spotify.

Some have gone to throw away his products to deny their support for the man.

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Fashion designers and brands are also announcing their disagreement with antisemitism remarks and the rapper’s behavior.

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MRC Studio has also announced that they’re shelving a finished documentary of him, and along with that, executives Modi Wiczyk, Asif Satchu, and Scott Tenley shared a memo on Monday.

“We cannot support any content that amplifies his platform. Kanye is a producer and sampler of music. Last week he sampled and remixed a classic tune that has charted for over 3000 years – the lie that Jews are evil and conspire to control the world for their own gain.”

“This song was performed acapella in the time of the Pharaohs, Babylon and Rome, went acoustic with The Spanish Inquisition and Russia’s Pale of Settlement, and Hitler took the song electric. Kanye has now helped mainstream it in the modern era.”

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