Kanye ‘Ye’ West Drops Off Forbes’ List of Richest Celebrities as Deals Crumble Amid Public Meltdown

thewrap.com:

the magazine reported. Meanwhile, Kanye “Ye” West, who saw business deals crumble with Adidas, Gap, Balenciaga, JPMorgan Chase, Foot Locker and more following a series of antisemitic comments, reportedly costing him $1.5 billion, was the only star to fall off the list this year.Just 14 entertainment and sports celebrities have worked their way to billionaire status since Forbes started ranking the world’s richest people, with eight of them climbing to those heights in the past three years.That’s a significant change from the first list in 1982, when the only entertainers among the richest Americans were Yoko Ono and Bob Hope.

By 2002, just six more were added, and only three of them made it to billionaire status: George Lucas, Steven Spielberg and Oprah Winfrey.But in the past eight years, market changes, investment opportunities and other deals have enabled 11 more from entertainment and sports to reach those ranks.

Forbes noted that often, half or more of the these celebs’ net worth is from their investments — as in the case of retired basketball star Michael Jordan, who’s now worth $2 billion, much of which comes from his ownership of the NBA’s Charlotte Hornets, or rap impresario Jay Z, currently worth $2.5 billion, a fortune that more than doubled in the past four years thanks to investments in the liquor industry.All three of the newcomers to the billionaire’s list likewise built their fortunes on a range of investments.Though internationally renowned for his golfing, Woods’ $1.2 billion net worth reflects not only his earnings on the links, but also investments in real estate, a golf course design company and a mini golf chain, Forbes said.“Margaritaville” singer and entrepreneur Buffett debuted on the list with a.