After Adidas, Balenciaga and more cut ties with Kanye, the rapper wrote, 'The money is not who I am, the people is who I am.'
Kanye West let his fans know how much his recent incendiary antics has cost him… literally. On Thursday, Oct. 27, the rapper took to his Instagram, which had been temporarily suspended over his antisemitic remarks, and claimed he lost a whopping $2 billion in one single day. The post also includes a reference to Ari Emanuel, the Endeavor CEO who spoke out urging businesses to cut ties with Kanye over his hateful rhetoric.
“Ari Emanuel, I lost 2 billion dollars in one day and I’m still alive,” Kanye wrote. “This is love speech. I still love you. God still loves you. The money is not who I am. The people is who I am.”
While it is unclear exactly how much damage the Grammy winner will incur financially, Forbes reported that Kanye no longer has a place on their billionaire’s list, citing the Adidas schism as a huge loss. The news outlet said on Tuesday that Kanye’s Yeezy line of ultra-expensive sneakers with the sports apparel company was worth $1.5 billion.
The post comes after it was reported that Kanye’s Donda Academy officially shuttered for the rest of the school year. The educational institution’s principal, Jason Angell, sent an email to parents of the students on Wednesday, Oct. 26, announcing the immediate closure “at the discretion of our Founder,” according to TMZ.
The news of the closure is the latest fallout for the “Famous” rapper. Not only did Adidas, Balenciaga and his own talent management CAA drop Kanye after the antisemitic outbursts, he was also escorted out of Sketchers after he showed up unannounced to reportedly pitch his Yeezy shoes.
Last week, Ari, whom Kanye has recently called out, wrote in a Financial Times op-ed that “Those who continue to do business with West are giving his misguided hate an audience. There should be no tolerance anywhere for West’s anti-Semitism. This is a moment in history where the stakes are high and being open about our values, and living them, is essential. Silence and inaction are not an option.”
