Kanye West and JPMorgan’s Bankruptcy Has Been Planned for Weeks

  • EVAN AGOSTINI/INVISION/ASSOCIATED PRESS

    Kanye West arrives at the Vanity Fair Oscar Party in February 2020, in Beverly Hills, California. West’s Twitter and Instagram accounts have been locked due to posts by the rapper, now legally known as Ye, that were widely viewed as anti-Semitic, according to reports Sunday.

NEW YORK >> JPMorgan Chase and Kanye West are ending their business relationship, but the split is not the result of the controversy over the hip-hop star’s recent anti-Semitic remarks.

The letter ending West’s relationship with JPMorgan was tweeted Wednesday by conservative activist Candice Owens, who was seen publicly at events with the rapper, who is now legally known as Ye.

While Owens claimed JPMorgan did not disclose the reason for the severing of ties, the letter was sent to West on September 20, according to a bank spokesperson. The decision was made after Ye publicly stated that he would sever ties with the bank. JPMorgan is giving West 60 days from the date of the letter to find a new banking relationship.

West told Bloomberg News on Sept. 12 that he planned to cut much of his ties with the company, saying it “was time for me to go it alone.” In that interview, he also criticized JPMorgan for not giving Ye access to Jamie Dimon, the bank’s CEO and chairman.

While Ye is rich from his hip-hop career, he also controls a popular fashion and footwear line under Yeezy Brands. In this interview with Bloomberg, he said he also plans to cut ties with his corporate vendors.

Social media giants Twitter and Instagram blocked publication of Ye’s accounts in recent days over his anti-Semitic comments.