Kanye West was right regarding Adidas blocking his access to $75 million of proceeds from his Yeezy profits.
Adidas was authorized to freeze almost $100 million in funds in November 2022 as a result of the Chicago rapper’s antisemitic comments, according to unsealed court records acquired by Law360. Yeezy was not aware of this.
Kanye West did not get the opportunity to fight back against the legal order because it was an ex parte decision, meaning it was granted without waiting for a response from the other side.
Adidas requested a New York federal court earlier this week to uphold the $75 million freeze on Ye’s accounts as they seek out arbitration regarding the termination of their lucrative partnership.
In an interview with the celebrity gossip outlet X17 from last November, Kanye revealed that he had a hunch that Adidas had froze his bank accounts.
He claimed it is also one of the reasons he is running for president again in 2024, saying he would change the law and protect Americans’ rights as well as their money.
“The reason why I’m announcing that I’m running for president is I want the FCC to look at my money,” Ye said. “If they actually see, I was looking at my money, and there might have been a possibility that Adidas wouldn’t have went into JP Morgan and froze my account and put a $75 million hold on four different accounts.”
He added: “I went from being a multi-billionaire to not even being able to use my Apple Pay four nights ago. I couldn’t use my Apple Pay because someone how Adidas was able to legally go in and freeze my money, and when I see this, I think, well, if this could happen to me, this could happen to other Americans, and for what?
“You know this can happen to an American that didn’t even steal anything, that didn’t even hurt anyone. This could just happen to you for saying the wrong idea out loud.”