Sportswear maker Adidas has terminated its partnership with rapper Kanye West, currently using the name Ye, following a string of controversial remarks by the rapper and fashion icon.

In a statement on its website, the company said, “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 and inclusion, mutual respect and fairness.”

Adidas noted it was now expecting “a short-term negative impact of up to €250 million on the company’s net income in 2022,” however it said it would still “terminate the partnership with Ye immediately.”

Ye has been posting a series of comments insinuating control of the media by people of Jewish ethnicity. Earlier in the month, he had accused Sean “Diddy” Combs of being controlled by Jewish people before he posted to Twitter he would be “going death con 3 ON JEWISH PEOPLE,” before the social media service suspended his account.

The rapper had begun his relationship with Adidas in 2013, and it was scheduled to continue into 2026. The loss of the deal is estimated to reduce Kanye’s net worth from $1.9 billion to $400 million.

The decision by Adidas comes on the heels of a number of other brands terminating their relationships with the musician. Gap terminated its relationship with Ye last month, and removed his Yeezy branded items from its stores. Foot Locker, which offers Adidas products in its retail outlets announced, they “will not be supporting any future Yeezy product drops.”

Balenciaga, JP Morgan bank, and talent agency CAA all also terminated relationships with Ye, as both Twitter and Instagram shut down his accounts.