Ye Stopped Renovations For $57M Malibu Property

Ye Stopped Renovations For $57M Malibu Property Leaving it Gutted

Now that Ye has won his $75 million battle with Adidas, maybe he can place some of the money into the reported rotting Malibu property he currently owns.

According to The U.S. Sun, the Malibu property that Ye bought for $57.25 million is in such disarray that it’s reported that the beachfront mansion could be permanently damaged. The house is in that condition due to construction being stopped last year by the controversial entertainer.

Because Ye was dropped by Adidas in October 2022, the money allegedly spearheaded for the property was no longer available.

The media outlet reported that Ye canceled the contractors hired to work on the property he purchased in September 2021. A source revealed that the property was left gutted in the middle of the renovation. Ye also shut down his construction company, Yeezy Construction Inc. in November.

Mint has also reported that Adidas has ended its federal case against Ye. The court reversed a decision to freeze Ye’s account, which held $75 million in it, after initially agreeing to keep Ye from the funds.

This comes right before, according to The Associated Press, Adidas started selling a portion of the remaining stock of Yeezys on Wednesday. The German brand stated that a portion of the sales from Yeezys will go toward fighting discrimination, hate, racism, and antisemitism.

Since 2013, Adidas was in a successful business relationship with Ye for nearly 10 years. Although Ye’s Yeezy brand was the top-selling shoe at the company, it decided to cut ties with the controversial music producer after he made antisemitic statements.

Late last year, Ye was on the Drink Champs podcast (which has since been deleted) and dared the apparel company to do something to sever their relationship. His contract was terminated by Adidas after he stated, “I can say antisemitic things, and Adidas can’t drop me. Now what?”

Ye Stopped Renovations For $57M Malibu Property Leaving it Gutted