Lil Wayne seems to think he's owed lots of money. Last year he filed a $51 million lawsuit against Cash Money, claiming he was owed royalties for his sub-label Young Money Records. Now he's taking on one of the biggest labels in the industry, Universal Music Group, over profits from discovering the likes of Drake, Nicki Minaj and Tyga.
Wayne, real name Dwayne Carter Jr., says the label has been repaying it's own debts with profits from sales accumulated from artists that he nurtured. Universal paid a $100 million advance to Cash Money, which Carter owns 49%, and is using the money that is owed to Carter from profits, to repay itself for that initial investment.
As reported by The Hollywood Reporter, the claim states that “100% of the profits that should have been paid to Lil Wayne as a result of his ownership of Drake, Nicki Minaj and Tyga records have been seized by Universal to repay debts that were neither incurred by nor were the obligations of Lil Wayne."
Howard E. King, Carter's lawyer, had this to say on the lawsuit: “Universal should be grateful and respectful to Lil Wayne for the millions of dollars in distribution fees and profits they have earned on the artists he brought to the company, instead of seizing all of his profits on those artists in a desperate attempt to recoup the tens of millions of dollars they are owed by Cash Money Records."
Universal has responded by saying they "will vigorously contest it and that the merits of our case will carry the day.”