Young Thug is facing another massive legal trouble while still in jail for his RICO Case that was served last May. Now, concert promoter AEG Presents is suing the rapper for $6 million.
With the RICO case at hand and multiple felony charges still underway, it would likely seem that Young Thug's fortune could all go down the drain because of these.
Aside from paying a whopping amount, he is also in danger of losing the YSL brand, including his very own name, Young Thug.
AEG Presents Sues Young Thug for Breach of Contract
According to All Hip-Hop, Young Thug is facing another legal heat over an alleged breach of contract. Apparently, he has made an "exorbitant" amount of advance from AEG Presents, his concert promoter, which amounts to $5 million.
AEG is seeking the return of this amount which corresponds to the exclusive rights of Thugger's concert. Based on the complaint, the rapper allegedly breached the contract after signing an agreement for the advance in 2017 - claiming that despite AEG having the rights to his concert, Young Thug dismissed the shows but still collected the performance fees.
The issue with AEG started way before he was arrested in May for the RICO charges and other felony suits.
"Despite having granted AEG the exclusive right to promote Mr. Williams' concert performances under the terms of the 2017 Artist Agreement, YSL and Mr. Williams immediately failed and refused to honor their respective obligations under the 2017 Artist Agreement by, among other things, disregarding AEG's rights, performing concerts without AEG's involvement, and retaining all proceeds generated therefrom," AEG pointed out.
Overall, AEG is seeking $6 million in damages, including attorney fees, among many others. Supposedly, the trial is taking place in October, but due to Thugger still behind bars, he could not face it and is expected to be tried in October 2023.
Aside from the $6 million, Young Thug could lose his name trademark and the rights to the YSL brand. (via HipHopDX)
With that loss, Young Thug would definitely go broke, based on the latest data on his net worth.
Young Thug Net Worth 2022
According to Celebrity Net Worth, Young Thug's Net Worth is only $8 million. So if he is convicted and penalized with the $6 million, this could only leave him with $2 million.
But with the piling lawsuits that he has already in line, Thugger might be bankrupted while rotting in jail, if and only if he would not make a strong case of argument to defend himself on the charges.
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