Taylor Swift’s Father Reportedly Earned $15M From Her Music Catalog Being Sold To Scooter Braun

Taylor Swift’s Father Reportedly Earned $15M From Her Music Catalog Being Sold To Scooter Braun

There doesn’t appear to be any bad blood brewing between Taylor Swift and her father — but they may have some things to discuss.

The “Karma” singer claimed she was taken by surprise when her music was sold to Scooter Braun, but a recent revelation claims her father profited greatly from the transaction.

Scooter Braun acquired Taylor Swift‘s catalog in 2019 when Big Label Machine Group founder Scott Borchetta decided to sell his business. Ithaca Holdings, owned by Scooter, paid $330 million to take it all.

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While sources claim Taylor Swift was never personally involved in the sale, Music Business Worldwide alleges that her father, Scott Swift, made $15.1 million from the historic transaction.

Despite the fact that he profited, a representative for Taylor claimed in 2019 that Scott Swift was unaware of the agreement before it was finalized and had purposely omitted a confidential NDA-signed phone contact about a potential contract in order to avoid having to keep anything from his daughter.

According to the representative,

“On June 25, there was a shareholder phone call that Scott Swift did not participate in due to a very strict NDA that bound all shareholders and prohibited any discussion at all without risk of severe penalty. Her dad did not join that call because he did not want to be required to withhold any information from his own daughter.”

The rep. added,

“Taylor found out from the news articles when she woke up before seeing any text from Scott Borchetta, and he did not call her in advance.”

According to a person familiar with the negotiations, the shareholder meeting was convened just 48 hours before Scooter Braun‘s purchase was officially announced, and since Scott Borchetta owned 90% of the company’s stock, the sale was practically inevitable.

The source confirms that Scott Swift was one of the five BMLG shareholders at the time of the sale, holding around 5% of the business when Scott Borchetta sold it to Scooter. An impressive payoff, especially in light of the suffering Taylor allegedly experienced as a result of the sale.

Since her music was sold off, Taylor has started re-recording all of her previous albums so that she would have a copy to keep.

And as if taking her catalog from right up under her nose wasn’t enough, Scooter sold the master rights to Taylor‘s first six albums to an unidentified investment fund for $300 million in 2020.

What are your thoughts on the entire situation? Let us know in the comments!

[VIA]