Shoe company Adidas dropped Ye, formerly known as Kanye West, after his anti-Semitic remarks. File Pool Photo by John Taggart/UPI | License Photo
Oct. 25 (UPI) -- Adidas said Tuesday that it was cutting ties with rapper Ye, formerly known as Kanye West, after his recent anti-Semitic comments in interviews and on social media.
The shoe company said that it was ending production of Yeezy-branded products and stopping all payments to Ye and his companies. Adidas said that this move would cut the company's income by around $250 million during the fourth quarter.
"Adidas does not tolerate antisemitism and any other sort of hate speech," the company said in a statement. "Ye's recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company's values of diversity and inclusion, mutual respect and fairness."
West, 45, is worth around $2 billion for his music and sneaker brand Yeezy as well as his former partnership with Gap, which ended recently. He has lost a plethora of sponsors after he tweeted he wanted to go "death con 3" on Jewish people.
Last week, luxury goods brand Balenciaga stopped working with West. JPMorgan Chase also dropped him.
In a letter, representing more than 4,000 attorneys and activists, the International Legal Forum called on all companies to cut ties.
"We call on you to end your silence, condemn Kanye's obscene anti-Semitism and terminate your partnership with him," the letter said.
Creative Artists Agency dropped West as a client earlier this month, according to a CAA representative who did not want to be identified. "I can confirm that Kanye is not a client," the representative told CNBC.
Following West's anti-Semitic remarks, both Twitter and Instagram blocked him. In response, West agreed last week to purchase the conservative social platform Parler.