Kanye West aka Ye claims losing $2 billion over anti-Semitic remarks
Kanye West lost over $2 billion in a single day due to anti-Semitic comments
American rapper and businessman Ye, formerly known as Kanye West, recently took to Instagram to reveal that he has lost over $2 billion in a single day due to his anti-Semitic outbursts. The fashion mogul's lucrative commercial tie-ups got shelved as companies like Adidas and Gap took fright at his controversial comments, which were dubbed hate speech by activists.
"I lost 2 billion dollars in one day. And I’m still alive. This is love speech," Ye wrote in an Instagram post. "I still love you. God still loves you. The money is not who I am. The people is who I am." The post was addressed toEmanuel Ari, the CEO of entertainment company Endeavor, who had urged people to sever ties with Ye for his controversial comments.
The post has received over 1.5 million likes, so far. Take a look!
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On Tuesday, German sportswear giant Adidas said that it was ending its partnership with the rapper due to his "unacceptable, hateful and dangerous" comments.
Adidas also said it would end production of the highly successful Yeezyline designed together with West and "stop all payments to Ye and his companies". The move is expected to lop around a quarter of a billion dollars off Adidas's bottom line this year alone.
Ye, who has often spoken about his struggles with bipolar disorder, has courted several controversies due to his comments and views about the world.
His willingness to go beyond the pale is a double-edged sword for business partners, who have benefited from his high profile and his frequent media appearances, but who risk being tarnished by association.
While they weathered previous comments, including when West called slavery a "choice", things began to unravel this month with his appearance at a Paris fashion show wearing a shirt emblazoned "White Lives Matter", a slogan created as a backlash to the Black Lives Matter movement.
Days later, he was temporarily locked out of Twitter and Instagram for threatening to "Go death con 3 on JEWISH PEOPLE", using a misspelt reference to US military readiness.
That sparked alarm, including apparently from his ex-wife Kim Kardashian, who wrote on social media "Hate speech is never OK or excusable," in posts that did not name West.
(With inputs from agencies)