Business

JPMorgan Chase Cuts Ties With Kanye Amid His Controversies—And Increasing Connection To Far Right

JPMorgan Chase Cuts Ties With Kanye Amid His Controversies—And Increasing Connection To Far Right thumbnail

Topline

JPMorgan Chase has reportedly severed ties with Kanye West and his apparel brand Yeezy Inc., amid a series of recent controversies surrounding the rapper’s anti-semitic comments and his increasing embrace of right-wing figures.

Kanye West attends the Givenchy Womenswear Spring/Summer 2023 show as part of Paris Fashion Week.

Corbis via Getty Images

Key Facts

On Wednesday evening, right-wing commentator Candace Owens tweeted the rapper had been “kicked out” by JPMorgan without any official reason along with a screenshot of a purported letter from the bank.

The letter informs the rapper that JPMorgan is ending its “banking relationship” with the rapper and his company Yeezy and informs him he has until November 21 to find a new bank.

The New York Times’ Dealbook newsletter confirmed Owens’ claim on Thursday.

West has been critical of several of his business partners recently including JPMorgan CEO Jamie Dimon and other senior executives Bill Grous and Jing Ulrich.

In a recent Instagram post, West claimed there has been a “lot of controlling and handling to suppress my ability to affect the American economy and industry.”

Key Background

West has been embroiled in a series of controversies in recent weeks, making several anti-semitic comments both on social media and during interviews. The rapper also courted controversy at his Yeezy brand’s fashion show last week by wearing and sending out on the runway a “White Lives Matter” shirt. West’s tirades on social media have prompted both Instagram and Twitter to lock his access to their platforms. After being pushed off social media the rapper appeared on Fox News host Tucker Carlson’s show, but segments of his interview where he made antisemitic—and other wild, conspiratorial—remarks were edited out. “The Shop” a talk show hosted by LeBron James canceled the planned airing of its Kanye episode after he used the show to reportedly promote “hate speech and extremely dangerous stereotypes”

News Peg

Amid his recent controversy, the rapper has increasingly been embraced by right-wing figures some of whom have tried to publicly defend him. Controversial pundit Candace Owens has emerged as one of the rapper’s most vocal advocates and even showed up at his fashion event dressed in her own “White Lives Matter” shirt. TMZ, citing West’s former friends, reported that Owens has been acting as the “chief advisor in his day-to-day life” and has even been reaching out to people on his behalf and setting up calls for him. On Wednesday, the rapper showed up for the premier of Owens’s documentary which is critical of the “Black Lives Matter” movement. On the red carpet ahead of the premier West appeared alongside rock singer Kid Rock, a vocal Trump supporter who has recently written songs that President Joe Biden and his top pandemic adviser Dr. Anthony Fauci. At the premiere, West was also spotted seen speaking with Project Veritas founder and right-wing activist James O’Keefe. Right-wing political commentator Ben Shapiro—who is Jewish—who has praised West recently commented on his recent anti-semitic remarks by tweeting: “two things can be true at once: Kanye’s moves toward pro-life, faith, and family conservatism are encouraging; his ‘death con 3’ posts and Black Hebrew Israelite language are clearly anti-Semitic and disturbing.” Right-wing commentator and YouTuber Tim Pool even suggested former president Donald Trump should pick the rapper as his running mate in the 2024 election tweeting “Trump / West 2024.”

Further Reading

The Right’s Cynical Embrace of Kanye West (The New Republic)

Kanye West Social Media Restrictions: Here’s Where Ye’s Still Posting After Lockout For Anti-Semitic Posts (Forbes)

Kanye West—Restricted On Twitter And Instagram—Posts Cryptic YouTube Video Of Meeting With Adidas Execs (Forbes)

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