Following the recent revaluation of his personal assets, African-American billionaire and leading musician Kanye West’s net worth has dropped by $2 million in the past 24 hours, bringing his total net worth below $400 million.
West, who is one of the world’s richest Black people thanks to his robust business empire spanning entertainment and the retail industry, has seen his net worth decline from $400 million to $398 million in the past 24 hours.
The $2-million drop in his fortune is the latest in a steady decline in his net worth over the last five months, which can be attributed to the termination of his lucrative multi-year contract with German multinational sportswear giant Adidas due to his antisemitic remarks that violated Adidas’ core values of diversity, inclusion, and equality.
The termination of his multi-year agreement to design the Yeezy sneaker line for Adidas caused his net worth to plummet from $2 billion to $400 million, leading to his exit from the exclusive billionaire club in what Forbes described as a “self-induced downfall” for the musician-turned-business-mogul.
Despite the drastic decline in his net worth from $2 billion to $398 million, West, now known as “Ye,” still boasts a higher net worth than both Emma Grede, the successful founder and CEO of Good American, and the immensely talented tennis icon Serena Williams, who is widely regarded as one of the greatest female tennis players in history.
With no other retail partnerships to rely on, West’s net worth of $398 million, which consists of real estate, cash, a music catalog, and a five-percent stake in his ex-wife Kim Kardashian’s shapewear company, Skims, makes him the 2,429th wealthiest person in the world.