Snoop Dogg has filed a complaint against Pabst Brewing, claiming that the beer making company owed him a percentage from last year's sales. It's not certain whether the partnership with Pabst has contributed to Snoop Dogg's net worth today.
According to the lawsuit, the brewery had to pay the rapper 10% of the net sales made by the firm, owned by Eugene Kashper. TSG Consumer Partners, a private equity firm based in San Francisco, purchased the beer firm and its subsidiaries including Colt 45 in 2014 for about $700 million.
In 2011, the 44-year-old hiphop artist signed a 3-year contract to become the brand ambassador of Blast, a fruit-flavored drink
Under his contract, Dogg was to get a portion of the company's market sales if ever the firm could sell out before January 2016. Included in the terms of agreement was a payment of $250,000 plus $20,000 installments every 10th mention of the product via social media, TV commercials and concerts.
However, aligned from payment agreements, Dogg thought that the signed contract also enables him a portion of the sales, as well as royalties from each Blast that had been purchased.
Though Pabst has denied the rapper's accusations, the lawsuit claims that the beer firm told Dogg the sale did not push through, which would've entitled him a piece of the $700 million deal.
A Pabst representative told CNBC, "Pabst Brewing Company has been under new ownership and new management since November 2014. We have not been contacted by Snoop Dogg or his representatives about this issue. We are investigating the matter and would be happy to talk to Snoop or his representatives to try to get to the bottom of this."
Snoop Dogg's net worth is at $135 million according to Celebrity Net Worth, its value coming from not only his music projects, but brand endorsement deals such as Blast.
