Due to the West’s hate statements, some commercial agreements were shelved by corporations including Adidas and Gap.
According to Kanye West, he lost $2 billion in a single day as a result of business partners quitting the rapper following a string of anti-Semitic comments.
Profitable business deals for the music and fashion entrepreneur have been stalled because Adidas and Gap were scared off by remarks that campaigners labeled as hate speech.
“I lost 2 billion dollars in one day. And I’m still alive. This is love speech”. Ye, better known as Kanye West, said on Instagram in a post that received over a million likes.
“I still love you. God still loves you. Money is not who I am. The people are who I am”. The CEO of the entertainment company Endeavor, Emanuel Ari, was cited in the article as having advised businesses to cut their relations with the rapper.
Adidas, the world’s largest sportswear company, announced on Tuesday that it was discontinuing its collaboration with West due to his “unacceptable, hateful, and dangerous” remarks.
Adidas also said that it will “stop all payments to Ye and his companies” and discontinue the manufacture of the hugely popular “Yeezy” brand. The decision is anticipated to reduce Adidas’s revenue by about a quarter of a billion dollars only this year.
West has a history of being vocal; he ran for US president in 2020 only half-heartedly before endorsing Donald Trump. West is candid about his issues with bipolar disease. His propensity to go beyond the pale is a double-edged sword for business partners who have profited from his high profile and regular media appearances but who run the danger of being damaged by association.
Gap, a US-based corporation, said hours after Adidas that it was closing down YeezyGap.com and taking “immediate steps to remove Yeezy Gap product from our stores”
West unexpectedly showed up with a film crew at the Skechers corporate offices in Los Angeles on Wednesday and was taken out, the business claimed.
