JPMorgan Chase Bank Cuts Ties With Kanye West's Yeezy Brand

By Tony M. Centeno

October 13, 2022

Kanye West
Photo: Getty Images

Kanye West will have to find a new place to put all of his billions after his longtime bank officially severed ties with the artist and his brand.

On Wednesday, October 12, Ye received a notice from JPMorgan Chase Bank who informed him that they are ending its banking relationship with his Yeezy brand and all affiliated entities. The Donda Academy founder has until November 21 to take his business elsewhere. Controversial far-right advocate Candance Owens shared the letter from the bank to social media. There's no indication of why the bank is closing the rapper's account, but there's also no proof to assume it's because of his latest outrageous statements.

Last month, Ye touched on his thoughts about JPMorgan Chase during an interview with CNBC's Closing Bell. At the time, he said he was already planning on leaving the bank and considered Bank of America as an alternative. He explained his reason for switching banks is due to the banks ties to Adidas.

"I'm moving my money from JPMorgan over to Bank of America possibly because I go and move $140 billion dollars over to JPMorgan," Ye said. "Jamie Diamond calls me and I find out Jing Ulrich is one of the heads of the board at adidas and one of the heads of the boards at JPMorgan so if they're already treating you a certain way at adidas, it doesn't matter how much money you move over there, they're going to treat you like they meet you."

No other context behind Yeezy's dealings with the bank behind-the-scenes has been provided by Ye or anyone from his team. It's possible that the letter could just be confirmation that the bank is closing his accounts. Nonetheless, the Donda rapper appears to be running with the popular claim that the bank is cancelling him over his Anti-Semitic views. See what he had to say below.

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