Rapper Lil Wayne Sells Masters To Universal In More Than $100 Million Deal
Rapper Lil Wayne (real name Dwayne Michael Carter, Jr.),38, is making major money moves. According to reports, Lil Wayne reportedly sold the rights to his music or his master to Universal Universal Music Group for more than $100 million back in June.
When someone owns their “Masters” or the original rights to a song, the track or tracks can be licensed to third parties for TV, film, commercials, or even sampling in other songs.
Now as far as why the public is just now hearing about it, the information was spilled in a recent lawsuit filed against Lil Wayne by his former manager Ronald Sweeney.
Sweeney is suing Lil Wayne for more than $20 million in ‘unpaid funds’. That money comes in parts from a settlement with Cashmoney records along with money owed for fulfilling a past manager’s duties.
The lawsuit comes after reports that Lil Wayne has been charged with possession of a firearm. He could get 10 years in jail if convicted.
What do you think about Lil Wayne selling his masters? Let us know in the comments.
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