Kanye West drops to third place in richest Hip-Hop Stars list as top brands cut ties

Kanye West, also widely known as Ye, is a popular Hip-Hop star who was accused of anti-semitism. Several brands had cut off their ties with Ye due to his anti-semitic remarks.

Kanye, however, said that the said campaign against him proves that there is no space for dissent in this industry. Kanye lost his Billionaire status and the position of second most richest among the list of richest Hip-Hop stars according to United States media agencies.

The said list is now topped by JAY-Z, with a net worth of $1.5 billion. Diddy Combs is a new entrant in the list of billionaires with a net worth of $1 billion. Kanye West currently has a net worth of $500 million. Forbes tweeted, "Kanye West no longer has a place on the Forbes billionaires’ list now that his lucrative deal with Adidas is over. https://trib.al/RdHavdF." 

'Ye’s recent comments and actions violate the company’s values': Adidas

Kanye lost his second position in the Forbes' richest Hip-Hop stars list as a result of the loss of Adidas's partnership with Kanye's brand Yeezy. The partnership was worth $400 million.

Adidas issued a statement condemning Kanye, "Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness. After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect." 

Other than Adidas, Balenciaga, Gap Inc., CAA talent agency and Vogue ended their partnership with Kanye. In October, Kanye prompted controversy with several statements including anti-semitic allegations. He alleged, "The Jews control the music industry and the media, suppressing everyone who opposes the narrative." After losing almost 2 billion dollars, he said, "I lost 2 billion dollars in one day and I’m still alive,” adding, "The money is not who I am. The people is who I am."