Billionaire, Kanye West, gets dropped from Adidas after stating potentially antisemitic tweets. The company had stated that his comments are "unacceptable" and that it violated the company's values of diversity. Adidas says they are expected to take a $246 million hit for fourth quarter sales.
On October 8th, Kanye tweeted that he will go "death con 3 on Jewish People" after he wakes up, sparking instant response from the media and Kanye's partnered companies.
Kanye's brand, Yeezy, also takes a hit as the iconic shoe will stop being produced by Adidas. In 2020 alone, Kanye raked it about $1.3 billion from the Adidas partnership.
Other companies such as JP Morgan, Gap, and more have also terminated ties with Kanye over the tweet, while taking a significant hit in revenue and net value.