Jay-Z has settled a lawsuit with Parlux Fragrances for $7.2 million after a legal battle that lasted over seven years.
The lawsuit, filed in January 2016, claimed that Jay-Z had not fulfilled promotional obligations for the cologne Gold Jay-Z.
Although a jury ruled in favor of Jay over a year ago, Parlux filed an appeal which they lost last week.
The court-ordered amount of $6.8 million plus interest was paid to Jay’s team on Wednesday.
Despite the large sum, it is a small portion of Jay-Z’s net worth, which has quadrupled since the lawsuit was filed.
He and Beyonce recently purchased a $200 million Malibu mansion, the most expensive real estate deal in California history, and also own a $100 million Bel-Air home.
Article updated 2 weeks ago. Content is written and modified by multiple authors.
