Credit: David Lezcano
Kanye West’s net worth has increased by more than $140 million – but he’s still a long way from his once-billionaire status.
Follow Yes distance After the disgraced rapper was removed from Forbes’ billionaires list in October 2022 after a series of anti-Semitic comments, he was no longer at the top of the publication’s prestigious list.
According to Forbes, the Adidas-Yeezy collaboration was worth around $1.5 billion at its peak; Without that deal, Kanye’s net worth dropped to $400 million — and that was before several other ventures in his name collapsed.
Sportswear giant Adidas has struggled with what to do with the remaining approximately $1.3 billion in Yeezy stock after cutting ties with Yeezy itself.
The company announced In May, the company announced it would sell the product it has already made and donate a “significant portion” of proceeds to “select organizations working to fight discrimination and hate, including racism and anti-Semitism.” These organizations include the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change.
But Bloomberg reports that Kanye West will be entitled to 11 percent of every Yeezy product sold, regardless of the dissolution of this partnership. As a result, Adidas could leave Ye about $143 million if it manages to successfully clear all inventory.
Kanye now has access to a previously frozen Yeezy-branded bank account with a balance of around $75 million. Last month, Adidas suddenly has dropped a case against West that began in late 2022 to recoup some of its losses from the dissolution of the partnership.
Adidas claims she is entitled to the money. Still, a federal judge overturned the West account suspension because “Adidas failed to file a request for confirmation,” invalidating the previously approved order.
Although the judge overturned the court order, the arbitration process is still ongoing and Adidas will continue to argue that it is the rightful owner of the assets in question. The judge has left open the possibility of additional requests to freeze Yeezy accounts and assets as the case progresses.
Adidas has resumed sales of its remaining Yeezy stock and several variants of the Yeezy Boost 350 V2 are available for sale for $230 a pair.