JPMorgan Chase Actually Cut Ties With Kanye West Before His Anti-Semitic Tweets
Contrary to what Candace Owens hintedJPMorgan has terminated its banking relationship with Kanye West last month, weeks ago when the rapper and fashion designer lost access to his social media accounts because of an anti-Semitic tweet.
On Wednesday, Owens posted a photo of a letter to West from JPMorgan Chase said that the bank “has decided to terminate its banking relationship with Yeezy, LLC and its affiliates.” The bank gave West until November 21 to either transfer his assets to another bank or receive the rest of his money via check.
Owens, a conservative commentator who has become close to the Yeezy founder in recent weeks, claims that the bank gave no official reason for the resignation. However, she seems to think JPMorgan’s decision is a backlash to West’s recent controversies, including when he vow to go “death 3” to the Jews in a tweet last weekend and when he wearing a “White Lives Matter” shirt at Paris Fashion Week last week.
“I’d say I don’t care what you think of Ye West — but I do care what you think about it,” Owens tweeted along with the letter. “We’ve reached a very scary time in this country.”
But the bank’s move has nothing to do with West’s recent remarks; A source close to the situation told The Daily Beast that the letter was sent on September 20, a few weeks before his anti-Semitic tweet and fashion show.
The source added that the letter was indeed sent in response West’s interview with CNBC last month, in which he announced his intention to shut down banking with JPMorgan while also combating his corporate partnerships with Gap and Adidas.
“I can transfer money from JPMorgan to Bank of America, because I transfer $140 million to JPMorgan and [CEO] Jamie Dimon never called me,” West said at the time. “I discovered Jing Ulrich was one of the heads of the board at Adidas and one of the heads of the board at JPMorgan, and they treated me a certain way at Adidas. It doesn’t matter how much money you transfer there.”
It remains unclear how the termination of the contract between JPMorgan and West actually came about and whether it was a joint decision by both parties.
West ending his partnership with Gap last month. Adidas put its own partnership with West under consideration days before his anti-Semitic remarks.
“The partnership with Adidas Yeezy is one of the most successful in the history of our industry,” the company said in a statement last week. “We are proud of our team that has worked tirelessly throughout our partnership with Ye and the iconic products that have come out of it. We also recognize that all successful partnerships are rooted in mutual respect and shared values. After many attempts to resolve the situation privately, we have made the decision to put the partnership under review.”