Rapper Jay-Z is at least $7 million richer than he was one day ago, and the money means he can finally put a more than 7-year-long legal battle behind him, TMZ reports.
According to the report by TMZ Paralux Fragrances sent $7,259,061.31 to Jay’s team on Wednesday that’s what the company owed him after losing the lawsuit it filed, way back in January 2016, claiming the mogul hadn’t lived up to promotional obligations for the cologne Gold Jay-Z.
A jury ruled in favour of Jay more than a year ago, but Parlux had filed an appeal, which it lost last week. As a result, the company was on the hook for the court-ordered amount of $6.8 million plus interest.
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!!!
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.
Rapper Jay-Z and Beyonce just paid $200 million cash, no less, for their new Malibu mansion. It’s the most expensive real estate deal in California history, and the 2nd biggest in U.S. history, and on top of that, they also have a $100 million Bel-Air home.
So, when it’s all said and done, $7.2 mil should cover their steep L.A. County property taxes … for about a year.