Ye West Is No Longer a Billionaire

Ye West Is No Longer a Billionaire

What Happened?

After several brands and companies have cut connections with Ye, formerly known as Kanye West, he is no longer a billionaire and they have taken him off the billionaires list. The artist first sparked discussion with his controversial apparel at the Paris Fashion Week during his YEEZY season nine fashion show. He wore a “White Lives Matter” t-shirt, which the Anti-Defamation League has determined as a hate slogan. Many of the models during the show were also wearing the same t-shirt. Many celebrities and people on social media expressed concern and comments that his actions will further perpetuate racism and hateful speech.Recently on Twitter, the artist and designer also posted a threatening antisemitic comment.

How Social Media Platforms are Handling it

Because of Ye’s actions, Instagram had taken down most of his content and restricted his account but has now lifted those restrictions. Twitter also restricted his account, but on Friday they lifted all those restrictions. At this time, social media platforms face the challenge of balancing free speech with safety and diminishing hateful speech.

How Other Brands are Handling it

Social media platforms were not the one companies to react to Ye’s actions. So far, about eleven companies have cut connections with Ye West after his antisemitic threats. The companies include: Vogue, Foot Locker, Adidas, Balenciaga, Gap, JP Morgan Chase & Co., Skechers, CAA, MRC, Peloton, and T.J. Maxx. These companies’ decision has led Ye West to lose his billionaire status. The biggest contributor was Adidas cutting ties with Ye and stopping the sale and production of Yeezy products. Although the company expects to lose around 246 million this year because of this cut, the artist and designer will lose much more. Although these connection cuts are valuable to set a standard that despite the popularity or wealth of a person hateful speech is never okay, many people are wondering what took so long and how social media platforms will move forward.

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