Ye, formerly known as Kanye West.
AP Photo/Michael Wyke, File
Kanye West said he lost $2 billion in one day after companies cut ties with him.
West’s Adidas deal was valued at $1.5 billion but the firm scrapped it after his offensive remarks.
The rest of his fortune is in music, cash, real estate, and Kim Kardashian’s clothing line, Forbes says.
Kanye West, formerly known as Ye, said on Thursday that he lost $2 billion in one day after major companies cut ties with him because of his offensive behavior and comments.
Adidas, Gap, Balenciaga, and Vogue decided to end their business relationship with Ye following his “hateful and dangerous” comments and behavior, including saying he was “going death con 3 on JEWISH PEOPLE.”
In an Instagram post on Thursday captioned “LOVE SPEECH,” Ye appeared to address Ari Emanuel, CEO of media and entertainment firm Endeavor, who wrote an op-ed in The Financial Times, calling for music companies to cease working with Ye because of his antisemitic comments.
“I lost 2 billion dollars in one day and I’m still alive,” Ye wrote in the post. “This is love speech, I still love you, God still loves you.”
“The money is not who I am,” he said, adding: “The people is who I am.”
Before being dropped by Adidas and other companies, Ye had a net worth of around $2 billion, according to Forbes. Ye’s partnership with Adidas was valued at $1.5 billion, but after the retail company severed ties with the rapper, his net worth fell to $400 million, per Forbes. As a result, he dropped off Forbes’ Billionaires’ list.
The rest of Ye’s fortune remains in his music, real estate, cash, and a 5% stake in his ex-wife Kim Kardashian’s clothing line, Skims, Forbes reported.
The 45-year-old disputed the figures and told Forbes this year that the Adidas deal alone was valued at $4.3 billion. When Forbes published its billionaires list with Ye valued at $2 billion, he told Forbes the publication had undervalued him.
When Ye was first listed as a billionaire by Forbes with an estimated $1 billion fortune, he said he actually had $3.3 billion to his name.
Ye’s Instagram post came hours after he was escorted out of a Skechers corporate office in Los Angeles after visiting “unannounced and without invitation,” the company told Insider in a statement. On top of this, Ye’s controversial $15,000-a-year Christian school abruptly shut its doors, reports said.
As well as antisemitic tweets, Ye sparked controversy by wearing a shirt emblazoned with the words “White Lives Matter” during Yeezy’s show at Paris Fashion Week in early October.