Wall Street banking giant JPMorgan Chase reportedly is no longer doing business with hip-hop billionaire Kanye West. While there are few confirmed details about what led to this decision, at least one right-wing provocateur is speculating it is due to West’s recent controversial fashion statement and remarks he made that were deemed anti-Semitic.
Not long after wearing a “White Lives Matter” shirt with conservative podcast host Candace Owens at a Paris Fashion Show, Kanye continue to spark controversy by going on a Twitter rant about Jewish people. He tweeted he will go “death con 3 on JEWISH PEOPLE.” The posts got him locked out of his Twitter account temporarily.
“Ima [sic] use you as an example to show the Jewish people that told you to call me that no one can threaten or influence me,” Ye said to Diddy in their newly formed beef on Friday.
Ye also shared his briefs that Black people “are actually Jew also.” This ideology is common with Black Hebrew Israelites, a growing fringe movement consisting of Black Americans who believe their ancestors were the original Jewish people.
This week reports emerged that JPMorgan has become Ye’s latest business partner to cut ties with him, and he reportedly will have to open another bank for his Yeezy, LLC by Nov. 21.
According to Owens, she was one of the first to know the bank was terminating business with West.
“Earlier today I learned that @kanyewest was officially kicked out of JP Morgan Chase bank. I was told there was no official reason given, but they sent this letter as well to confirm that he has until late November to find another place for the Yeezy empire to bank,” Owens tweeted.
She also posted a picture of a letter she said was sent to West by the bank.
“We are sending this letter to confirm our recent discussion with [redacted] that J.P. Morgan Chase Bank has decided to end its banking relationship with Yeezy, LLC and its affiliated entities,” the purported notice said.
JPMorgan Chase declined to comment when contacted by Business Insider.
Was He Cut Before anti-Semitic Remarks?
According to The Daily Beast, JPMorgan canceled its banking relationship with West in September, weeks before the anti-Semitic tweet, well before Owens posted the Chase letter on Oct. 12.
A source told the Daily Beast the Chase letter was sent on Sept. 20 after West’s interview with CNBC during which West indicated he was switching banks.
“I’m moving my money over from JPMorgan over to Bank of America, possibly, because I go and move $140 million over to JPMorgan and [CEO] Jamie Dimon never calls me,” West said at the time to CNBC. “I find out Jing Ulrich is one of the heads of the board at Adidas and one of the heads of the board at JPMorgan, and they already treat me a certain way at Adidas. It doesn’t matter how much money you move over there.”
Kanye Speaks Out
Ye seems to confirm the end of his banking relationship with Chase in comments to Page Six.
“Hey, if you call somebody out for bad business, that means you’re being antisemitic,” Ye said. “I feel happy to have crossed the line of that idea so we can speak openly about things like getting canceled by a bank.” He later called himself “the richest Black man in American history.” He cut himself off, as seen in the clip below, and said he would discuss the matter further “at a different time.”
Dispute Dates Back
Since early September, Kanye has been complaining about Chase, where he had moved his money earlier this year. He went on social media to complain that the bank’s leadership failed to meet with him even though he had $140 million in the bank. On Instagram, he called out Chase executives Bill Grous of JPMorgan’s wealth management business, investment banking Vice Chair Jing Ulrich and Chief Executive Officer Jamie Dimon. West also revealed he couldn’t even get the CEO James Dimon on the phone, let alone set up a meeting.