Kanye West is no longer a billionaire

Nathan

Nathan

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Kanye West is no longer a billionaire. After being flagged on Instagram and Twitter for antisemitic comments, companies who partnered with the rapper are dropping him en masse.
He is now worth $4 million, according to Forbes. The financial site noted that without his $1.5 billion from Addidas, he lost most of his $2 billion fortune.

On top of that loss, Yeezy products have been pulled from the shelves at the Gap and Footlocker. Donda Sports has taken a hit as well as the NFL’s Aaron Donald and NBA star Jaylen Brown ended their partnerships with the mogul. In addition, fashion house Balenciaga and Vogue magazine have cut ties with him.

His entertainment-based income is in jeopardy as well as talent agency CAA and film and TV production company MRC. It’s rumored that he’s been dropped by Def Jam Records as well, according to ET.


West’s current net worth is based on his cash and real estate assets, approximately how much his music catalog is worth and his 5% stake in shapewear brand Skims, which is owned by his ex-wife Kim Kardashian, according to Forbes. finance.yahoo.com

What a great move on his part, his tax preparer will be proud.
 

Nathan said:
Kanye West is no longer a billionaire. After being flagged on Instagram and Twitter for antisemitic comments, companies who partnered with the rapper are dropping him en masse.
He is now worth $4 million, according to Forbes. The financial site noted that without his $1.5 billion from Addidas, he lost most of his $2 billion fortune.

On top of that loss, Yeezy products have been pulled from the shelves at the Gap and Footlocker. Donda Sports has taken a hit as well as the NFL’s Aaron Donald and NBA star Jaylen Brown ended their partnerships with the mogul. In addition, fashion house Balenciaga and Vogue magazine have cut ties with him.

His entertainment-based income is in jeopardy as well as talent agency CAA and film and TV production company MRC. It’s rumored that he’s been dropped by Def Jam Records as well, according to ET.


West’s current net worth is based on his cash and real estate assets, approximately how much his music catalog is worth and his 5% stake in shapewear brand Skims, which is owned by his ex-wife Kim Kardashian, according to Forbes. finance.yahoo.com

What a great move on his part, his tax preparer will be proud.
Click to expand...
Not 4 Million........ $400..MILLION !!

https://parade.com/1167487/jessicasager/kanye-west-net-worth/
 
I think this is the one thing that always pissed me the most about owning stocks. I used to go to shareholders meeting and ask to have my name out on the agenda because I wanted to address the issue of how much the company was paying out for sponsorships. My first time speaking before the shareholders, I typed my message, so I wouldn't forget what I wanted to talk about and also because I knew I would be nervous.

The company was of all things, Nike. When I got to the podium and looked at the shareholders and Board of Directors and Officers, I wanted to say "excuse me" and go sit down, but I didn't. I told the group of about 2-300 people that I had a prepared copy to read and then I would sit down No questions. After I had my say, I actually received an applause. That's all well and good, but Nike has never changed their position on handing out hundreds of millions of dollars each year for their sponsorships.

What started all of this is when Nike signed LeBron James to a $90 mil contract even before he stepped on an NBA floor to play a game. Even today, he brings down a cool $30 mil per year. That's just one sponsor. To me, that's a lot of shareholder money to spending They say they wouldn't have the sales if they didn't have these sponsors. The one Director pointed to Reebok and said look at what happened to them since they lost all of their sponsorships. Their sales are barely enough to keep investors interested. Last I heard, Shaq took over Reebok as the largest or second largest shareholder. It may be risky, but it may be worth buying a few shares and go long to see what happens.
 

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