Kanye West Reacts After Losing $2B From Adidas Deal: "The Money Is Not Who I Am"

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2015 MTV Video Music Awards - Fixed Show
LOS ANGELES, CA - AUGUST 30: Vanguard Award winner Kanye West speaks onstage during the 2015 MTV Video Music Awards at Microsoft Theater on August 30, 2015 in Los Angeles, California. (Photo by Kevork Djansezian/Getty Images)
Ye sends a message to Endeavor CEO Ari Emanuel after Adidas cuts ties with him.

Kanye West is no longer a billionaire after dismantling his fashion empire in weeks. The Chicago artist lost his deal with Adidas this week after the brand put the partnership under review, as companies like Balenciaga and Gap further distanced themselves from Ye.

The result was a nearly $2 billion loss to his net worth. It was inevitable following weeks of spewing anti-Semitic comments throughout numerous interviews.

NASHVILLE, TENNESSEE - OCTOBER 12: Kanye West attends the "The Greatest Lie Ever Sold" Premiere Screening on October 12, 2022 in Nashville, Tennessee. (Photo by Jason Davis/Getty Images for DailyWire+)

Endeavor CEO Ari Emanuel denounced Ye for his comments, urging brands and companies to cut ties with him. This morning, Ye reacted to the news of his net worth dropping below the $1B mark while also sending love to Emmanuel in spite of his comments.

"Ari Emanuel, I love 2 billion dollars in one day and I'm still alive. This is love speech. I still love you. God still loves you," he wrote. "The money is not who I am. The people is who I am."

Emanuel told Kanye's business partners and collaborators to "speak out and take action" after his anti-Semitic comments.

"West is not just any person — he is a pop culture icon with millions of fans around the world. And among them are young people whose views are still being formed," wrote Emanuel in an op-ed for the Financial Times. "There should be no tolerance anywhere for West's antisemitism. This is a moment in history where the stakes are high and being open about our values, and living them, is essential. Silence and inaction are not an option."

Kanye's lost more than business deals in the past 24 hours. Donda Academy's principal announced the school will be shutting its doors. Students will no longer be able to attend Donda Academy for the remainder of the 2022-2023 school year. However, Angell added that they will be returning in September 2023. Angell didn't mention the anti-Semitic controversy as a contributing factor, though hours earlier, the school's basketball team was dropped from the Scholastic Play By Play tournament due to Ye's remarks.

About The Author
Aron A. is a features editor for HotNewHipHop. Beginning his tenure at HotNewHipHop in July 2017, he has comprehensively documented the biggest stories in the culture over the past few years. Throughout his time, Aron’s helped introduce a number of buzzing up-and-coming artists to our audience, identifying regional trends and highlighting hip-hop from across the globe. As a Canadian-based music journalist, he has also made a concerted effort to put spotlights on artists hailing from North of the border as part of Rise & Grind, the weekly interview series that he created and launched in 2021. Aron also broke a number of stories through his extensive interviews with beloved figures in the culture. These include industry vets (Quality Control co-founder Kevin "Coach K" Lee, Wayno Clark), definitive producers (DJ Paul, Hit-Boy, Zaytoven), cultural disruptors (Soulja Boy), lyrical heavyweights (Pusha T, Styles P, Danny Brown), cultural pioneers (Dapper Dan, Big Daddy Kane), and the next generation of stars (Lil Durk, Latto, Fivio Foreign, Denzel Curry). Aron also penned cover stories with the likes of Rick Ross, Central Cee, Moneybagg Yo, Vince Staples, and Bobby Shmurda.