Parlux Fragrances Finally Pays Jay-Z $7.2 Million After Years-Long Battle
Jay-Z recently became $7 million richer, as Parlux Fragrances finally paid him the million-dollar settlement they owed him after the rapper won his countersuit following a years-long legal battle with the company.
Parlux Fragrances originally filed a case against Jay-Z in 2016 after they fell into conflict. The company claimed Jay-Z wasn’t fulfilling his promotional obligations for the cologne Gold Jay-Z, which they released collaboratively.
While the fragrance company was seeking $67 million in damages, Jay-Z filed his own countersuit claiming the company was withholding royalties from him.
At first, while a court didn’t find Jay-Z in breach of contract, it also dismissed his countersuit claim. The rapper’s legal team went on to appeal decision, where he was successful.
Jay-Z was initially awarded $4.5 million in unpaid royalties, and Parlux was also ordered to pay interest, for a total of $7.2 million.
According to TMZ, the growth of Jay-Z’s net worth shows just how long the lawsuit has been going on for. “Here's a little perspective on how long the Parlux battle dragged on -- when the lawsuit was filed, Jay-Z was worth about $610 million, according to Forbes. Seven years later, he's more than quadrupled that!!!” TMZ reports.
“While the $7 mil would be like hitting the lotto for most of us, it's a drop in the bucket for someone as successful as Jay,” the publication continues.
Jay-Z’s collaboration with Parlux Fragrances wasn’t his only business partnership to go south in recent years. In February, he settled a million-dollar lawsuit with Bacardi over the D’USSÉ premium cognac brand, which they originally shares equal ownership of.
The music producer claims that Bacardi was trying to low ball him when he wanted to be bought out, leading him to file the lawsuit.
Eventually, Bacardi and Jay-Z’s legal teams were able to reach a settlement. The company agreed to buy an undisclosed percentage of Jay-Z’s stake, which has been valued at $3 billion. The rapper retains a small stake in the brand.
ncG1vNJzZmivp6x7tbTEq6CcoJWowW%2BvzqZmq6GTnXqxu9aeqZ%2BtnGS9or7Lrq9mnqKWtLOtzZycrGWWnruiuMuyZKmZqah6q63YZrFmb11neq61y6WgqKZdlrO1sdFmsJ6Zoqh6rbvNoGSbmaSpuaZ7