Young thug accused of selling more than 400 songs with loan terms in violation of $16 million

Young Thug, the rapper, whose real name is Jeffery Williams, is embroiled in a copyright dispute with entertainment giant AEG over the unsolicited sale of his music catalog for $16 million.

As reported by AllHipHop, AEG claims Williams sold copyrights related to more than 400 songs, violating the agreement with AEG. The company claims these assets should have been used to secure an outstanding loan.

The issue dates back to 2017, when AEG awarded Young Thug’s YSL label $5.25 million for exclusive rights to promote his live shows. In return, YSL and Williams must pay back the loan plus interest and will have to share profits from the concerts with outside promoters.

However, in 2019, AEG accused YSL and Williams of failing to repay the loan with a remaining balance of $5 million. The company also claimed that the rapper lied to them about financial matters related to debt repayment.

In early 2022, legal proceedings were paused while Williams served time on unrelated charges. Attention turned to Taite again when he settled on a plea deal in October 2024, at which point he would have served 15 years of probation but no prison time.

Williams began selling off some of his publishing rights in 2021, reportedly without informing AEG, even as he continued to deal with legal troubles. According to documents, the purchase ended up complicating the financial dispute, and court documents show the rapper amassed more than $16 million based on the purchase, but it also put ownership copyright became “exceptionally lax”.

See also  Global music stars come to India as Indian youth hold concerts

AEG said Young Thug’s actions violated their agreement and were “false and misleading” to the new buyer about the legal status of the structure. In addition to the initial loan amount, the company also seeks any profits related to the copyrights sold.

To find out what ultimately happened in the sale of music rights, AEG has begun sending subpoenas to those involved in the sale and is reviewing public records to trace the money trail to see who currently holds the copyright and where the proceeds from the sale went. .

The company said it will determine within six months whether it will pursue legal claims against more parties or other methods to reclaim collateral tied to Young Thug’s portfolio. .

However, with the criminal trial now complete, each side appears ready to continue exploring this high-profile dispute.

Tag the young thug

Leave a Comment