zar

In 2020 Adidas paid Kanye West $191 million in Yeezy royalties. Two years later it cut him, kept the designs and sold the leftover pairs for about $1.5 billion. Kanye West says he was told Adidas would never put him on its board. In the video below he tells it himself: "I'm 43 years old. I was 53 million dollars in debt... four years ago, and now it's proven that I'm the new Michael Jordan of products." He says a man helping him build factories told him flatly, in Malibu: "Adidas will never put you on the board." His reaction: "this wall has to come down." Forbes put his cut at 15% of wholesale, roughly triple Michael Jordan's at Nike. By 2020 Yeezy sold nearly $1.7 billion a year. He tells Rogan he is worth "five billion dollars" (Forbes said $1.3 billion) and still has to "ask him for something." In October 2022 he said on a podcast Adidas could not drop him. On October 25 it did, citing antisemitism and calling his comments and actions "unacceptable, hateful and dangerous." Worked out. His side: $2 billion to $400 million in a day, per Forbes. Adidas: about $1.5 billion of leftover pairs sold over two years, roughly $540 million in operating profit. First drop: orders for about 4 million pairs worth $563 million, about $140 a pair. The case for Adidas: a seat would put the royalty collector on both sides of his own contract. $191 million to him in 2020. Nothing either way in the 2024 settlement. When one partner brings in up to 15% of a company's profit, should he get a board seat, or is that the risk a board exists to keep out?