Birdman has long been looked at as one of the biggest moguls in the hip-hop industry. It’s easy to imagine Birdman staring outside the window of his home, rubbing his palms and thinking what to buy next with Drake-Wayne-Nicki proceeds – because apparently Drake and Wayne aren’t getting it. According to a recent report by The Blast, however, he might not be doing as well as advertised.
The outlet reports that Birdman may lose his bigtime Miami mansion after defaulting on a $12 million loan from a company named EMG Transfer Agent. Birdman took out the loan in 2015, and used the mansion – which he copped in 2012 for $14.5 million – as collateral. Birdman purchased the mansion from Rockstar Energy Drink CEO Russell Weiner who purchased it from producer Scott Storch for $7 million.
The mansion is on the market again, as Birdman put it on the market for $20 million, before dropping his price down to $16.9 million. Who knows if Birdman needs the proceeds from the sale to pay off the loan, or if he’s once again employing his bizarre strategy of only paying once the owed amount becomes a legal matter. The report comes amidst a stalled, $50 million legal battle between Birdman and his “son” Lil Wayne.
