Nicki Minaj Alleges Jay-Z Owes Her Millions in Tidal Equity Dispute
Nicki Minaj has taken to social media platform X to air grievances against Jay-Z, claiming the hip-hop mogul owes her a substantial sum, potentially reaching $200 million, related to her stake in the streaming service Tidal. The rapper, known for her outspoken nature, alleges discrepancies in the payout she received after Tidal's sale to Jack Dorsey's Square (now Block, Inc.) in 2021.
The Tidal Investment and Sale
Back in 2015, Jay-Z acquired Tidal for $56 million, aiming to create a platform that would prioritize artist ownership and high-fidelity audio. As part of this initiative, fifteen prominent artists, including Nicki Minaj, were gifted a three percent equity stake in the company. The idea was to empower artists and give them a direct financial interest in the success of the streaming service.
However, Tidal struggled to gain significant market share against established giants like Spotify and Apple Music. Despite efforts to revitalize the platform, it faced financial challenges. In 2017, Jay-Z sold a stake in Tidal to Sprint, a telecommunications company, for a reported $200 million investment.
Ultimately, in 2021, Tidal was sold to Square for $302 million. This sale triggered payouts to the various stakeholders, including the artist-owners.
Minaj's Claims of Underpayment
According to Minaj, she was offered only $1 million for her three percent stake after the Square acquisition. This is the crux of her dispute with Jay-Z. She believes that her fair share of the sale proceeds should have been significantly higher, estimating the shortfall to be between $100 million and $200 million.
In her X posts, Minaj directly addressed Jay-Z, urging him to settle what she refers to as a "karmic debt." She added a touch of humor, stating, "You still in my TOP 5 tho," despite the financial disagreement.
Potential Use of Funds and Charitable Intentions
Minaj has indicated that if she receives the money she believes she is owed, she intends to use it for philanthropic purposes. Specifically, she stated she would use the funds "to send some of my Barbz to college, pay their school fees & student loans via my #StudentOfTheGame charity." The "Barbz" are the dedicated name that Minaj has given to her fanbase, and the #StudentOfTheGame charity implies that she is aiming to support the education of her fans.
Further Allegations Against Roc Nation Leadership
In addition to her claims regarding Tidal equity, Minaj also directed criticism toward Desiree Perez, the CEO of Roc Nation, Jay-Z's entertainment company. Minaj made serious accusations against Perez, alleging abuse of her own daughter, Demoree, though without providing specific details.
Previous Social Media Commentary
This isn't the first time Minaj has publicly questioned the Tidal payouts. Last September, she shared a post from a media outlet reporting on the payouts received by other Tidal co-owners, including Beyoncé and Rihanna, which were reported to be in the neighborhood of $8.9 million. Minaj expressed skepticism about these reports, questioning why her photo was used in conjunction with the article and suggesting that some individuals within the industry were attempting to manipulate the narrative to their advantage.
Tidal's Financial Struggles
Prior to its acquisition by Square, Tidal faced persistent financial difficulties. Reports indicate substantial losses over several years, including $10.4 million in 2014, $28 million in 2015, and nearly $44 million in 2016. These financial woes contributed to the platform's struggle to compete with more established streaming services. The $200 million investment from Sprint in 2017 provided a temporary boost, but ultimately proved insufficient to turn the tide.
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