JAY-Z RECEIVES A PAYMENT OF $7.2 MILLION!
With at least $7 million more in his bank account today than he did yesterday, Jay-Z can put his more than seven-year legal battle behind him.
According to information obtained by TMZ Hip Hop, Paralux Fragrances sent $7,259,061.31 to Jay’s team on Wednesday as payment for losing the lawsuit it had filed in January 2016 alleging the mogul had failed to fulfill his promotional duties for the cologne Gold Jay-Z.
As we previously mentioned, a jury found in Jay’s favor more than a year ago; however, Parlux appealed the decision, which it lost last week. The result was that the company was responsible for paying the $6.8 million plus interest that the court had ordered.
Here’s some context for how long the Parlux legal dispute went on: according to Forbes, Jay-Z was worth about $610 million at the time the lawsuit was filed. He has more than quadrupled that after seven years!
For most of us, winning $7 million would feel like winning the lottery, but it’s a drop in the ocean for someone as successful as Jay.
He and Beyonce just paid $200 million — in CASH, no less — for their new Malibu mansion, as first reported by TMZ. In addition to being the second-biggest real estate transaction in American history and the most expensive in California history, the deal includes a $100 million Bel-Air residence.
In conclusion, $7.2 million should be enough to pay their high L.A. County property taxes for about a year.