Ex-billionaire Kanye West sued by Adidas for $275 million

Adidas sprang forward to sue Kanye West for $275 million in advertising fees, as Ye revealed, adding all his bank accounts are also frozen.

The former billionaire posted this information on a Twitter video on Thanksgiving, captioned with his campaign hashtag "YE24."

The beginning of the video hinted that the sportswear giant took action on November 16, a week after the company's third-quarter earnings call, in which it forecasted the profit by 2022, citing the loss from the cancellation of its relationship with West.

After Insider contacted about the claims made in Ye's video, Adidas declined to comment but pointed to its October 25 announcement ending their partnership, when the company added it would "stop all payments to Ye and his companies."