Lil Wayne is getting sued for a cool $20 million, at least, by one of his ex-managers. But the interesting caveat is that Tunechi allegedly sold his masters to the Universal Music Group for over $100M.
That’s kind of a big deal, and it sounds like a steal.
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According to TMZ, the Trump-supporting rapper stiffed Ronald Sweeney out of money he was due after helping Tunechi renegotiate his deal with Cash Money Records. Reportedly, Sweeney was hired back in 2005 and helped sort out the drama between Lil Wayne, Cash Money and the rapper’s Young Money label back in 2018, but he claims he never got all the money he was due.
And this is when the tea gets scorching. Per Sweeney, in 2018 Wayne asked him to fire his longtime manager and childhood buddy Cortez Bryant, and he says he did. The reason was due to a conflict of interest involving Drake and a legal rift with Cash Money. Nevertheless, he claims Bryant and eternal Young Money exec Mack Maine managed to convince Wayne that it was Sweeney who should be let go, and he was, in September 2018.
But TMZ buried the lede since it mentions in passing that Sweeney and his lawyer Ed McPherson believe the rapper is flush with cash because he sold his masters to the Universal Music Group for more than $100 million in June 2020.
That’s a good chunk of change, but considering Lil Wayne’s extensive catalog it seems like a small fraction of the revenue that his albums bring in over time—2006’s Tha Carter III is 6X platinum while 2011’s Tha Carter IV is 5X platinum, for example.
The speculation will naturally be that Lil Wayne is hard up for cash. And that will only be compounded by the rumor that he got paid to endorse the guy who lost the Presidential election. But also, you have to wonder if Cash Money founders Baby and Slim would let something like that happen.
So far, no comment from Lil Wayne’s side.
Lil Wayne Sold His Masters In June For Over $100M? was originally published on hiphopwired.com