Kanye West, now legally known as Ye, built a financial empire that transformed his successful rap career into a brand.However, a recent series of anti-Semitic rhetoric has recently That has prompted many companies to stop doing business with the rapper-turned-designer.
He claims he lost $2 billion in a single day, but Forbes calculates slightly less. His fortune has grown from about $2 billion to nearly $400 million. His net worth is supported by real estate, music values and a stake in Skims founded by ex-wife Kim Kardashian.
Companies and celebrities have stopped working with Kayne West
The biggest loss of Ye’s personal wealth was his $1.5 billion purchase of Yeezy-branded sneakers with Adidas. The company announced on Oct. 25 that it would no longer sell his shoes or pay rappers and designers royalties. Several other stores have also removed his products, including Balenciaga, Gap, Foot Locker and The RealReal. TJX Companies, which owes to a number of department stores including TJ Maxx, will also no longer sell any West clothing.
Ye’s sports agency, Dongda Sports, is losing two professional athletes.two athletes Aaron Donald, Defensive tackle for the Los Angeles Rams, and Jaylen Brown, A Boston Celtics guard announced they were leaving.
Vogue and its editor-in-chief Anna Wintour It has been stated that they will no longer work with rappers and designers. Likewise, the talent agency that previously represented him, Ari Emanuel’s WME and UTA, Saying they won’t be working with him, he’ll be hanging around after one of his current creative artist agency says it’s dropping Ye.
While his savings are around $400 million, his finances have taken a considerable hit, though he is by no means a pauper. But how did Ye build up his wealth in the first place?
Kanye’s early years
Kanye was born in Atlantabut after his parents divorced, he and his mother moved in chicagowhere did he spend Most of his youth. His mother was an English professor, and in general, he enjoyed a standard middle-class education, and even had Opportunities to live in China When his mother was a Fulbright fellow. When his mother realized her young son had a talent for poetry and rap, she started scheduling time in the studio.There, the young Mr. West met important members of the music industry, such as DJ has no ID, who became his mentor.
Kane West albums
Kanye’s first album, college dropout Released in 2004, he won Seven Grammy Nominations He took two of them home Best Rap Album and Best R&B Song “You Don’t Know My Name.” he was also nominated album of the year In recognition of his work as a producer on The Diary of Alicia Keys.
Since the 2005 Grammys, he has won Seventy nominations won for his work Twenty-four awards.
business venture capital
In 2009, Kanye West and nike brought the company’s first non-athletic sneaker to market, Air-Yeezy I, The second version was released in 2012. He also collaborated on footwear with Louis Vuitton and Bape in 2009, followed by M/M Paris in 2011 on a luxury line of silk scarves for men.
In 2013, West embarked on another footwear-based collaboration, this time with Adidas. Through partnership, beloved Yeexzus boot is released. In 2015, he expanded the collaboration to include clothing lines. In 2017, Kanye West and Kim Kardashian’s line expanded to include kids’ wear. In 2020 alone, the brand has gained more than $1.7 billion in sales. That same year, however, the U.S. Treasury Department recorded that the company received small business loans under the CARES Act.
Joining forces with music legends, it was announced in 2015 that West would be co-owner of the new streaming platform tidal. The team launched in collaboration with Jay-Z and many other top artists to try Fight against streaming monopoly held by Spotify This has left many artists frustrated that royalties are too low.Other co-owners include Rihanna, Beyonce, Madonna, Chris Martin and Nicki Minaj, who reportedly owns three percent of the company’s shares.
In the summer of 2020, West announced a new partnership with Gap.
The first drop of the series takes place at September 28nd consists of red bubble coats.Those who have been notified after registering All items sold out within 24 hourss.In an interview with Rolling Stone, Los Angeles-based designer Rich Fresh said the concept was new to Gap, and he had never seen their products resold, explaining that “they never had anyone. Walk into the Gap, buy a T-shirt, and resell it 10 times on the open market as much as possible – This will be their new reality. “