Jay-Z reportedly just got a $7.2 million come-up after finally getting cashed out following a grueling seven-year legal battle with Parlux Fragrances.
On Wednesday (June 7), Parlux Fragrances made a payment of $7,259,061.31 to Hov’s team, according to TMZ. This payment was the result of the company losing a lawsuit dating back to 2016, in which Parlux Fragrances alleged that the Roc Nation founder failed to fulfill promotional obligations for their fragrance collab, Gold Jay-Z.
XXL has reached out to Jay-Z’s team, his attorney and Parlux for comment.
Back in 2016, Parlux sued Jay-Z for $18 million for breach of contract. The Florida-based company claimed it contracted Hov to do a signature cologne line and expected to make a $50 million profit over two years from the deal. However, they alleged Jay-Z did not actively promote the line as he was contracted, leading to poor sales and unsold inventory.
The case dragged on for years. In October of 2021, Jay-Z’s attorney hired a private investigator to force an in-person testimony in the case. Later that month, Jay-Z testified in the case. Last February, a jury ruled in Jay-Z’s favor and awarded him $4.5 million in royalties. Adding in lawyer costs and interest, the amount ballooned to $7.2 million.
While the payout might seem big, it’s small change to Jay-Z who is reportedly worth $2.5 billion.
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Author: C. Vernon Coleman II