The company have released a statement saying "Adidas does not tolerate anti-Semitism and any other sort of hate speech. Ye's recent comments and actions have been unacceptable, hateful and dangerous and they violate the company's values of diversity, inclusion, mutual respect and fairness".
Adidas will end production of Yeezy branded products and stop all payments to Kanye West with immediate effect which cost him up to €250 million this year alone.
Balenciaga and Gap were the first companies to cut ties with the rappers due to his comments. JP Morgan, Chase & Co, CAA and Vogue have dropped him aswell as Instagram suspending his account. This has cost him his billionaire status.
