Bossip is reporting that the rapper Jay-Z owes Highland Capital Management LP $52 million dollars in loan guarantees, and that the Jigga man hasn’t been paying as expected. The loan was allegedly used to purchase property in Manhattan for a hotel.
Jay-Z has reportedly filed a complaint against Highland Capital, claiming that the company was seeking funds in excess of the amount owed. He has requested $3.7 million in compensation. Bossip is also reporting that Jay-Z was sued by his attorney last year for unpaid legal fees. It seems that everyone in this story has something to say, and I hardly expect that this means that Jay-Z is going broke. At the same time, things may not always be what they seem.
I doubt Jay-Z is broke, he’s a smart man
Source: Black Voices
