Kanye West could go bankrupt “Shocked”

Kanye West could go bankrupt “Shocked”

Kanye West

Hip-hop star Kanye West (45), who was recently kicked out of global sports brand Adidas, is expected to face a financial disaster soon.

Page Six reported on the 30th (local time) that Kanye West was kicked out of Adidas and other companies, reducing his assets. “If he doesn’t find a way to turn the situation around, he could soon be in trouble.”

He had five sources of income: Adidas, Gap, music catalogues, new album releases and concerts, but four of them were completely shut down or severely damaged by anti-Semitic comments and white supremacist support.

Adidas cut deals with Kanye West at the expense of huge losses. Forbes reported that Adidas’ net worth fell to $400 million (about 560 billion won) on the 26th as it terminated its business contract with West.

Adidas has partnered with West since 2013 and made profits by selling expensive sneakers called “Yeezy.” The termination of Adidas’ contract cost West $1.5 billion (2.13 trillion) in assets.

In addition to Adidas, fashion companies such as Gap, Foot Locker, and TJ Maxx have cut ties.

It has become difficult to expect sales of concerts that can make money easily. The performance at the Los Angeles Sophie Stadium was canceled on November 4.

Even if they want to release a new album, they can’t find a client to distribute. His contract with longtime label Def Jam ended in 2021.

“His luxurious lifestyle was based on the Idas contract, but he lost three-quarters of his net worth at the end of the contract,” an official said. “This will be a big hole for him.”

Earlier on the 8th, West tweeted, “We will impose ‘death con 3’ on Jews.” It was interpreted as an expression of “death” in comparison to DEFCON, which refers to the U.S. military’s readiness to defend itself, causing a stir.

“I can talk about anti-Semitism, and Adidas can’t resist me. He raised the controversy by saying, “What should I do?”

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