Kanye West drops off Forbes billionaires list after Adidas ends partnership – with Spotify joining list of companies condemning him
Kanye West has fallen off the list of the world’s richest billionaires compiled by Forbes after Adidas cut ties with him over antisemitic comments he made on social media.
The artist, who legally changed his name to Ye and was ranked number 1513 on Forbes’ rich list earlier this year, had a multi-year deal to design his trainer brand Yeezy for the German sportswear company.
However, the company announced on Tuesday that it would end production of Yeezy branded products and stop all payments to him and his companies with “immediate effect” due to “unacceptable, hateful and dangerous” hate speech from the artist.
The rapper’s lucrative contract with Adidas accounted for $1.5bn (£1.3bn) of his net worth, according to Forbes.
“With that gone, Ye is no longer a billionaire,” said the American business magazine.
“It caps a stunning, self-induced downfall for one of the brashest and most volatile personalities to have graced Forbes’ pages.”
Forbes estimates West’s current net worth to be around $400m (£346m) – down from $2bn (£1.7bn).
“Losing Adidas was the final nail in Ye’s net-worth coffin”, said Forbes, adding: “Now the road has ended.”
Spotify joins the condemnation bandwagon
Spotify has become the latest company to openly criticise West’s remarks – but the music streaming platform will not take action against him.
Company CEO Daniel Ek said the artist’s remarks were “just awful comments”, which would have warranted West’s removal from Spotify for violating its anti-hate policies if they had been said on a podcast or recording.
Since the comments were made on social media, Spotify would only remove the rapper’s music if his label requested it, the company said.
Kanye West antisemitism controversy: What rapper said and how people have reacted
Earlier this month, Ye tweeted to say he was “going death con 3 ON JEWISH PEOPLE” before alleging he was not “Anti Semitic because black people are actually Jew also”.
Since then, West has seen his Instagram and Twitter accounts restricted, an end to his banking relationship with JP Morgan, the termination of his collaboration with Balenciaga fashion house, and a completed documentary about him shelved – and the list of corporations condemning his words continues to grow.
Kim Kardashian. Pic: AP
In an indirect tweet to her ex-husband on Monday, Kim Kardashian wrote: “Hate speech is never OK or excusable. I stand together with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end”.
Antonio Brown stands with West
Despite the backlash, American footballer Antonio Brown, president of West’s brand management agency Donda Sports, has released a statement on Twitter declaring his “support” for the rapper, who he considers his “brother”, and frowning upon the organisations cutting ties with the artist.
“Over the past few weeks the world’s reactionary and selective outrage at comments in the media made by my brother, Ye, have inflamed and sparked rampant conversation and reflection.
“I too have been able to reflect on statements that I and others in my circle have made that lack clarity in expressing my stance.
“The people and brands that have relentlessly profited from Black ideas and Black culture chose to distance themselves at a very specific time: a time that demonstrated their prioritization of certain groups over others.
“None of us in this world are free of judgment, yet we live in a time where scrutiny and pessimism have driven our dialogues on cultural issues toward diatribes”.
Brown added that he stands by his “dedication to freedom of speech, thought and opinion” and that diversity in thought “pushes humanity forward”.
However, he said: “Let me be clear, discrimination of any kind is an injustice to all people, which is exactly why I wish to issue this statement”.
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Brown said he would remain as president of Donda Sports and ended his statement saying: “I remain in support of the humanity that is Ye”.
Sky News has contacted West’s representatives for comment.
Russell Brand has been charged with rape and two counts of sexual assault between 1999 and 2005.
The Metropolitan Police say the 50-year-old comedian, actor and author has also been charged with one count of oral rape and one count of indecent assault.
The charges relate to four women.
He is due to appear at Westminster Magistrates’ Court on Friday 2 May.
Police have said Brand is accused of raping a woman in the Bournemouth area in 1999 and indecently assaulting a woman in the Westminster area of London in 2001.
He is also accused of orally raping and sexually assaulting a woman in Westminster in 2004.
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Ashna Hurynag discusses Russell Brand’s charges
The fourth charge alleges that a woman was sexually assaulted in Westminster between 2004 and 2005.
Police began investigating Brand, from Oxfordshire, in September 2023 after receiving a number of allegations.
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The comedian has denied the accusations and said he has “never engaged in non-consensual activity”.
He added in a video on X: “Of course, I am now going to have the opportunity to defend these charges in court, and I’m incredibly grateful for that.”
Metropolitan Police Detective Superintendent Andy Furphy, who is leading the investigation, said: “The women who have made reports continue to receive support from specially trained officers.
“The Met’s investigation remains open and detectives ask anyone who has been affected by this case, or anyone who has any information, to come forward and speak with police.”
Tom Cruise has paid tribute to Val Kilmer, wishing his Top Gun co-star “well on the next journey”.
Cruise, speaking at the CinemaCon film event in Las Vegas on Thursday, asked for a moment’s silence to reflect on the “wonderful” times shared with the star, whom he called a “dear friend”.
Kilmer, who died of pneumonia on Tuesday aged 65, rocketed to fame starring alongside Cruise in the 1986 blockbuster Top Gun, playing Tom ‘Iceman’ Kazansky, a rival fighter pilot to Cruise’s character Maverick.
Tom Cruise said ‘I wish you well on the next journey’. Pic: AP
Val Kilmer in 2017. Pic: AP
His last part was a cameo role in the 2022 blockbuster sequel Top Gun: Maverick.
Cruise, on stage at Caesars Palace on Thursday, said: “I’d like to honour a dear friend of mine, Val Kilmer. I can’t tell you how much I admire his work, how grateful and honoured I was when he joined Top Gun and came back later for Top Gun: Maverick.
“I think it would be really nice if we could have a moment together because he loved movies and he gave a lot to all of us. Just kind of think about all the wonderful times that we had with him.
“I wish you well on the next journey.”
The moment of silence followed a string of tributes from Hollywood figures including Cher, Francis Ford Coppola, Antonio Banderas and Michelle Monaghan.
Kilmer’s daughter Mercedes told the New York Times on Wednesday that the actor had died from pneumonia.
Tom Cruise at Caesars Palace on Thursday. Pic: AP
Diagnosed with throat cancer in 2014, Kilmer discussed his illness and recovery in his 2020 memoir Your Huckleberry and Amazon Prime documentary Val.
He underwent radiation and chemotherapy treatments for the disease and also had a tracheostomy which damaged his vocal cords and permanently gave him a raspy speaking voice.
Kilmer played Batman in the 1995 film Batman Forever and received critical acclaim for his portrayal of rock singer Jim Morrison in the 1991 movie The Doors.
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He also starred in True Romance and Kiss Kiss Bang Bang, as well as playing criminal Chris Shiherlis in Michael Mann’s 1995 movie Heat and Doc Holliday in the 1993 film Tombstone.
In 1988 he married British actress Joanne Whalley, whom he met while working on fantasy adventure Willow.
The couple had two children before divorcing in 1996.
Bruce Springsteen is to release seven albums of mostly unheard material this summer.
The US singer said the songs, written and re-recorded between 1983 and 2018, were being made public after he began completing “everything I had in my vault” during the COVID-19 pandemic.
In a short video posted on Instagram, Springsteen said the albums were “records that were full records, some of them even to the point of being mixed and not released”.
The 83-song collection is being released in a box set called Tracks II: The Lost Albums and goes on sale on 27 June.
Some 74 of the tracks have never been heard before.
Springsteen first teased the release on Wednesday morning with a short social media video accompanied by text which said: “What was lost has been found”.
Tracks II is the follow-up to the star’s first Tracks volume, a four-CD collection of 66 unreleased songs, released in 1998.
Bruce Springsteen at New York’s Carnegie Hall at a tribute to Patti Smith last month. Pic: PA
The New Jersey-born rocker, nicknamed The Boss, last released a studio album in 2022.
Only the Strong Survive was a collection of covers, including songs by Motown and soul artists, such as the Four Tops, The Temptations, The Supremes, Frankie Wilson and Jimmy Ruffin.
The late soul legend Sam Moore, who died in January and was a frequent Springsteen collaborator, sang on two of the tracks.
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Springsteen is coming to the UK in May to launch a two-month tour of Europe with his E Street Band.
The shows will include performances at the Co-op Live in Manchester and Liverpool’s Anfield stadium.
The singer-songwriter has sold more than 140 million records since his debut on the music scene in 1973, according to his website.
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