Ye faces a $4.5 million lawsuit from his former business manager.
According to legal documents obtained by the explosion and TMZ, famed accountant and entrepreneur Thomas St. John has filed a lawsuit against the entertainer formerly known as Kanye West for an alleged violation of their agreed-upon monthly fee. During a recent encounter between the two of them, St. John claimed that Ye got “aggressive” with him and has since stopped paying the money he agreed to pay.
According to the lawsuit, the entrepreneur was approached by the multiple hyphen earlier this year to provide business management, tax and accounting services. After meeting in March to discuss doing business together, Ye began introducing St. John as “CFO of Donda,” a different Yeezy-branded company. St. John requested a two-year warranty to work with the Yeezy company.
“In addition to the economic costs and risks associated with engaging with defendants as customers, plaintiff also needed assurance that defendants would not simply walk away from the business relationship. Mr. St. John, however, offered to compromise on a deal with a minimum term of 18 months,” the lawsuit states. Eventually, they agreed to an 18-month term, but the company St. John works for was forced to cut two other potentially lucrative opportunities in order to work with Ye.
According to the signed agreement between the two parties, St. John and his company have been “retained to act as Kanye’s ‘senior financial advisor’ and as chief financial officer. The agreement provided for a monthly fee of $300,000. Just weeks after they signed a contract, Ye called a meeting to drop the case.
“At this meeting, Mr. West became passionate and aggressive. He yelled at Mr. St. John and made it clear that he no longer wanted to work with (St. John),” the lawsuit read. “When confronted with the 18-month commitment that had just been made, Mr. West said words like ‘The 18-month term was bullshit’ and ‘You’re crazy to think that I would stick to it. Ye did not pay the remainder of the contract, which consisted of 15 months of payments.
“As a direct and immediate result of Kanye’s breach, (the business) was harmed to the extent of the balance of unpaid fees of $900,000 as of October 12, 2022,” the lawsuit continued. “It will continue to be damaged for an additional $3,600,000 for fees due from October 2022 through November 2023, during the remainder of the 18-month minimum terms of the agreement.”
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