Kanye West says he was two months away from bankruptcy after losing ‘$2billion in one day’ over anti-Semitic outbursts and put ‘everything I had into’ $7million Super Bowl advert

 

Kanye West has claimed he was ‘two months away’ from declaring bankruptcy after losing $2billion in one day when Adidas terminated its partnership with Yeezy.

The rapper, 46, lost his billionaire status in 2022 when a number of brands ended his lucrative contracts over his anti-Semitic outbursts and were outraged over his decision to promote White Lives Matter T-shirts at his Paris Fashion Week show.

Kanye said he poured ‘everything I had’ into Sunday’s $7million Super Bowl advert for his fashion brand and his new album, Vultures.

‘I’m just be honest with y’all. I was two months from going bankrupt, and I put everything I had into it [the album and the Super Bowl advert],’ he told TMZ.

Kanye said as his wealth began to plummet, he moved to Italy with his wife Bianca Censori.

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Kanye West has claimed he was ‘two months away’ from declaring bankruptcy after losing $2billion in one day when Adidas terminated its partnership with Yeezy’We moved to Italy. We moved to the factories, and we survived. We survived through the cancellation. We’re back number one,’ he said.

On Monday, Kanye shared Yeezy had made $19.3million from the Super Bowl advert and Vultures was number one in 100 countries.

When asked if he felt the controversy ‘helped’ him, Kanye replied: ‘It wasn’t about the controversy. It was about being able to say how you felt out loud.

‘If I didn’t have the various skill sets of music and clothing and the fanbase, they would have been able to destroy me. But because we had all those skill sets, somehow I’m here inside of this universe able to fight.’

Kanye was asked if he regretted his anti-Semitic comments, to which he responded: ‘hey got the right to their opinion – I got the right to my opinion.’

The rapper returned to the spotlight on Sunday night with his bizarre commercial for his fashion brand during the Super Bowl.

During the promo, filmed in the back of a car, Kanye joked his team had splashed so much cash on the Super Bowl 2024 spot – which are said to run to $7 million for 30-seconds – they didn’t have any budget left to produce a commercial.

He said: ‘Hey y’all, this is Ye and this is my commercial … (my team) spent all the money on the commercial spot (so we) actually didn’t spend any money on the actual commercial.

‘But the idea is I want you to go to Yeezy.com. Imma write it at the bottom of the screen … and I got some shoes, and ummmm … that’s it.’

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The rapper, 46, lost his billionaire status in 2022 when a number of brands ended his lucrative contracts over his anti-Semitic outbursts (pictured with Adidas CEO Bjørn Gulden)

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On Monday, Kanye shared Yeezy had made $19.3million from the Superbowl advert and Vultures was number one in 100 countries

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Sunday’s commercial prompted fans to visit his website, where merchandise for his new album Vultures 1 was available to buy

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While West’s bizarre homemade addition to the TV schedule was at odds with the glossy, big-budget commercials that aired on Sunday, fans claimed it was a stroke of marketing genius

How much was Kanye – who claimed to be the ‘richest black man in the world’ – really worth?

Forbes estimated Kanye was worth around $2billion before he was dropped from lucrative contracts

ADIDAS –  $1.5billion

West’s deal with Adidas was the crowning jewel of his fortune, with sales climbing to $1.7billion in 2020 – earning him $191 million in royalties.

Forbes estimates that the Yeezy business with Adidas is worth $1.5billion, and the company confirmed that they were likely to lose up to $250million of their net income in 2022 as a result of the split.

GAP X BALENCIAGA –  $970million

His GAP collection was estimated at around $970million when the deal was announced in 2021, but he has since terminated his work with the retailer.

Initial products sold out in 2021, after being announced in June 2020, in a partnership which was expected to last for ten years but was cut short by West.

GAP were also part of a deal between Yeezy and Balenciaga, with estimates claiming they would bring in $1billion in projected sales.

SKIMS – $160million

West, who divorced Kim Kardashian in 2020, remains a partner in Skims but it is unclear how much he earns from that.

He previously ranted about owning 5 percent of the business, which is estimated at a $3.2billion net worth.

If that is the case then he would have a $160million stake in the company.

MUSIC – $90million

He has sold over 140 million albums worldwide, and documents seen by Forbes show that his own recorded music and publishing rights is worth at least $90million.

Between mortgages, advances and other liabilities, Forbes say West owes about $100 million.

The outlandish rapper was in attendance at Allegiant Stadium in Las Vegas as Kansas City Chiefs triumphed over San Francisco 49ers to claim their third title in five years.

Brands including Dunkin’ Donuts, Mountain Dew, Uber Eats and Oreo spent an average $7million apiece to secure an advertising spot during Sunday evening’s Super Bowl – watched by 114million across the globe.

But while West’s bizarre homemade addition to the TV schedule was at odds with the glossy, big-budget commercials that aired on Sunday, some fans claimed it was a stroke of marketing genius.

Taking to X, formerly Twitter, one impressed viewer wrote: ‘The genius that is Kanye West. Put a commercial on the Super Bowl that will trend beyond the Super Bowl.’

A second added: ‘Greatest Super Bowl commercial there is.’

While a third admitted: ‘I didn’t watch the Superbowl but I have seen this ad 3 times. Pretty genius of you actually.’

Elsewhere a fourth wrote: ‘Ye’s #Superbowl commercial is the mosy Ye commercial ever.’

The ad appeared to be a clever marketing ploy after West – who has rebranded himself as the abbreviated Ye – withdrew his latest album, Vultures 1, from streaming platforms and modified its cover art.

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German sporting goods behemoth Adidas has terminated its partnership with Kanye  amid controversial behavior from the American rapper and designer in 2022

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West’s Yeezy deal with Adidas was the crowning jewel of his fortune, with sales climbing to $1.7billion in 2020 – earning him $191 million in royalties

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The outlandish rapper was in attendance at Allegiant Stadium in Las Vegas as Kansas City Chiefs triumphed over San Francisco 49ers to claim their third title in five years

Sunday’s commercial prompted fans to visit his website, where new album related merchandise is available to buy. The album returned to streaming platforms on Monday morning.

West stepped into enemy territory as he arrived to the Super Bowl on Sunday – where his rival Taylor Swift and ex-wife Kim Kardashian were both in attendance.

The rapper was completely in disguise as he headed to the big game hand-in-hand with his wife Bianca Censori.

He wore a crucifix mask by Alexander McQueen, black leather jacket, and glossy leather trousers while Bianca sported a jacket and glossy hooded accessory.

The designer mask was placed snugly over his head covering and was perhaps worn in tribute to the late designer, who died on February 11, 2010.