A chunk of Nelly’s music collection was purchased by the financial company HarbourView Equity Partners for an alleged $50 million. Variety claims that the parties reached an agreement in which the business acquired “select” recorded-music assets from Nelly.
According to TMZ, the rapper received $50M as part of the arrangement, which reportedly includes payment for half of his successes, such as “Hot in Herre” and the Kelly Rowland-assisted “Dilemma.” For the aforementioned songs, Nelly won two Grammys in 2003 for Best Male Rap Solo Performance and Best Rap/Sung Collaboration. The following year, “Shake Ya Tailfeather” earned him another Grammy.
The St. Louis native is the latest musician to sell a chunk of their library. Logic recently closed an eight-figure deal. After signing a $200 million-plus contract with Shamrock Capital and Universal Music Group in January, Dr. Dre will reportedly receive $10 million each year. Two months later, Shamrock paid approximately $70 million for a chunk of Metro Boomin’s publishing catalog.
Nelly has worked with Janet Jackson, Nicki Minaj, Pharrell Williams, and Usher over the course of his two-decade career and was one of the first rappers to venture into country music. He recently released “Heartland,” his eighth studio album and first totally country-inspired record, and played at the April Stagecoach event.
HarbourView has recently bought collections from artists such as country musicians Brad Paisley and Lady A, as well as rockers Incubus.