Heavy_Handz
Superstar
Jay-Z is worth upwards of 3 billion dollars. He been Gucci
Jay-Z Files Claim For "Reasonable Doubt'' Master Rights Ahead Of August 29th Auction
- Thread starter BK The Great
- Start date
Bleedin Gums Murphy
All Star
He’s toast. No (sane) person should want to spend $3 million just to pay some of Dame’s bills with their only reward being that they can rent an ownership share in name only.
He‘s needs to just go ahead, and get a 9-5. So at least his creditors will know he has some type of income they can garnish.
Either way, whether it’s a job or this auction/bailout, Dame’s going to be calling another man “Daddy”.
ajnapoleon
Veteran
Cloud McFly
All Star
Yes.
If someone buys it, they would have to get their approval to be able to do anything with it.
Lol so that auction is meaningless then.
I first thought that Dame owned 100% of RD so at least it made sense but a buyer would have to pay 3M for an album that barely streams today ? And to recoup, that album should generate at least 1.5M a year so he could get his 500K cut. Smh
I just looked there (JAY-Z - Spotify Top Albums) and it seems that RD has 85k cumulative daily streams on Spotify (there's 3 versions so maybe 250K ?).
Not sure how much Spotify pays but those daily numbers don't seem nearly high enough to recoup.
Devil Plisken…CMS
Veteran
This nikka has probably been keeping poor Beyonce up with this bullshyt since thr rights became available
Smh
Smh
Art Barr
INVADING SOHH CHAMPION
What's stopping Jay from sending someone to go bid on his behalf and finally get what's his earlier than the 6 year wait?
The feds will lock that nikka up for tampering.
The reason why all this is public.
Is so the feds can monitor and try to move on this shyt.
Oh to add.
Now I think about this.
It is bogus.
it is like.
when Martha Stewart got caught.
With this...best believe.
streets is watching....
Hopefully everyone just legally let this play out.
how they always tell you to. If you retain counsel on this type of shyt.
or seek referral in attempt to seek counsel.
Hopefully all parties act like respectable businesses.
Then follow through in succinct orderly civil business like fashion to a conclusion.
If nikkaz cared about hiphop culture frfr.
none of this would ever have been like any of this.
art barr
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I wonder if these lawyers holding the auction knows anything about the music business or auctions for that matter
Like if nobody bids more than 500k then the auction ends, shyt isn’t sold and nobody gets any money.
Like billboard are saying, what are you gonna do with a minority stake in a company with hostile majority owners, one of which it will return to in 6-7 years
Like if nobody bids more than 500k then the auction ends, shyt isn’t sold and nobody gets any money.
Like billboard are saying, what are you gonna do with a minority stake in a company with hostile majority owners, one of which it will return to in 6-7 years
Tribal Outkast
Veteran
They’re trying to overinflated the value of Reasonable Doubt. I love that album but I don’t see it fetching that much money honestly. Dame is just going to have to sell it or whatever and get nothing. Looking at the article, the money made from the sale is literally going to pay all his bills. Now if he had a share in Empire State of mind he’d be eating eating.
King Harlem
Superstar
Based on them raising the minimum bid amount, postponing the date and the Feds now getting a piece, I'm guessing there is a high demand for this. Dame may have gotten lucky with this.
steadyrighteous
Veteran
They're not raising the minimum bid amount because there is high demand, they are raising the minimum bid amount because Dame has a lot more debt than expected.
Initially, this auction was only to pay off the 800k he owes the director/producer from the lawsuit.
But now child support (who want 190k) and NY State (who want at least 1.7m in back taxes, because he owes close to 8m) want a cut. So the minimum bid amount is going up because more people are chasing him.
Dame is not lucky, he's an idiot and a bad businessman who owes almost $10m to 3 entities - two being the government.
steadyrighteous
Veteran
This also explain why in the past two weeks Dame's been on IG talking about "if the bid goes over $10m I'll give you a Roc chain"
Because he knew, before the news leaked obviously, that the auction needed to cover more than just the lawsuit. And that he needs $10m at least to even start seeing a profit. Everything $10m or less is going directly to child support, NY State, and Webber, in that order.
So it's just another case of Dame trying to slick talk is way into appearing like a hustler when he's just begging for someone to bail him out of the situation.
Because he knew, before the news leaked obviously, that the auction needed to cover more than just the lawsuit. And that he needs $10m at least to even start seeing a profit. Everything $10m or less is going directly to child support, NY State, and Webber, in that order.
So it's just another case of Dame trying to slick talk is way into appearing like a hustler when he's just begging for someone to bail him out of the situation.
King Harlem
Superstar
No matter how much debt he has, they have to believe that the asset will garner at least the minimum bid amount.