Adidas terminated its partnership with rapper and fashion designer Ye on Tuesday after he made a series of antisemitic remarks, a move that knocked the musician off the Forbes list of the world's billionaires.

Adidas put the tie-up, which has produced several hot-selling Yeezy branded sneakers, under review this month. "Adidas does not tolerate antisemitism and any other sort of hate speech," the German company said on Tuesday. “Adidas does not tolerate antisemitism and any other sort of hate speech,” the company further said in the statement. “Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness."

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In now-deleted Instagram posts earlier this year, the multiple Grammy award-winning artist accused Adidas and US apparel retailer Gap of failing to build contractually promised permanent stores for products from his Yeezy fashion line. He also accused Adidas of stealing his designs for its own products.

Adidas is just the latest company to end connections with Ye, who also has been suspended from Twitter and Instagram over antisemitic posts that the social networks said violated their policies.