Yeezy, owned by Ye, aka Kanye West, cut ties to JPMorgan before 'White Lives Matter,' antisemitism controversy
Ye said on Wednesday he was 'happy' he 'crossed the line' with his most recent controversies and was 'canceled by a bank'
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JPMorgan Chase is severing ties with Yeezy Brands, owned by Ye, the artist formerly known as Kanye West.
The bank sent Ye a letter on Sept. 20, weeks before he mired himself in controversy after wearing a "White Lives Matter" shirt at his Paris fashion show and writing antisemitic social media posts.
The letter was shared by Ye’s friend conservative activist Candace Owens on Twitter who commented, "We have reached extremely frightening times in this country." She didn't specify in her tweet when the letter was sent.
Ye told the New York Post of the news Wednesday, "Hey, if you call somebody out for bad business, that means you’re being antisemitic. I feel happy to have crossed the line of that idea so we can speak openly about things like getting canceled by a bank."
FILE - In this Feb. 9, 2020, file photo, Kanye West arrives at the Vanity Fair Oscar Party in Beverly Hills, Calif. Rapper and fashion mogul Ye’s high-end clothing company Yeezy has agreed to pay $950,000 to settle a lawsuit over slow shipping to cus (Photo by Evan Agostini/Invision/AP, File) / AP Newsroom)
Ye said he planned to cut his corporate ties in an interview a week before the bank’s letter, telling Bloomberg, "It’s time for me to go it alone."
He added, "It’s fine. I made the companies money. The companies made me money. We created ideas that will change apparel forever. Like the round jacket, the foam runner, the slides that have changed the shoe industry. Now it’s time for Ye to make the new industry. No more companies standing in between me and the audience."
He had also criticized executives at JPMorgan before the interview on Instagram and said he couldn’t get the CEO on the phone.
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The JP Morgan Chase & Co. headquarters, The JP Morgan Chase Tower in Park Avenue, Midtown, Manhattan, New York. JPMorgan Chase & Co. is an American multinational banking and financial services holding company. It is the largest bank in th (Photo by Tim Clayton/Corbis via Getty Images / Getty Images)
"I feel like there’s a lot of controlling and handling to suppress my ability to affect the American economy and industry," Ye told Bloomberg of JPMorgan.
Adidas said its partnership with the mogul is "under review" last week following the "White Lives Matter" controversy. (REUTERS/Andrew Kelly/File Photo/Steve Eichner/WWD/Penske Media via Getty Images)
The bank gave Yeezy 60 days from the letter to find a new institution for its money.
Yeezy has already ended its relationship with Gap and Adidas said its partnership with the mogul is "under review" following the "White Lives Matter" controversy.
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"After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review," the company said on Oct. 6, three days after Ye’s fashion show. "We will continue to co-manage the current product during this period," the company said in a statement.
No reason has been specified by JPMorgan's severing of ties.