The American rapper is no longer a billionaire. The American star was, according to Forbes, one of the greatest fortunes of global show business .
With an estimated net worth of nearly $2 billion, Kanye West was one of a dozen celebrity dollar billionaires behind George Lucas ($10 billion), Steven Speilberg ($8 billion) but ahead of Rihanna ($1.7 billion), Jay-Z (1.3 billion), Paul McCartney (1.2 billion) or even JK Rowling (1 billion).
For the past few days, the one now called "Ye" has seen luxury fashion house Balenciaga, textile giant Gap and Adidas end their business relationship with him .
Losses that dented his fortune by around $1.5 billion.
“The $1.5 billion value of the agreement with Adidas was calculated from a multiple of annual profits, explains the American media. Based on interviews with industry experts, Forbes had considered that the royalties Ye received from Adidas were similar to royalties from music catalogs or film residues."
Kanye West had been in contract with Adidas since 2013. A contract estimated between 1.7 billion and 1.8 billion euros per year.
A significant loss of income for the German equipment manufacturer which fell on the stock market and a collapse in the net worth of the singer's heritage.
Forbes now estimates him at $400 million thanks to his real estate assets, the value of his music catalog as well as a 5% stake in the Skims clothing brand of his ex-girlfriend Kim Kardashian.
Kanye West more billionaire? The singer will certainly not hear it that way. The American rapper has believed for years that Forbes underestimates his fortune.
In 2020, he had written to the American magazine to complain about his treatment, estimating that his fortune was according to him 3.3 billion dollars and not 1.3 billion as Forbes calculated at the time.
According to the artist's calculations, his contract with Adidas was worth $4.3 billion in net worth.
Despite his loss, he would still be a billionaire with a fortune of $2.7 billion.