News: Lil Wayne & Drake Have Money To Blow, But Refuse $400,000 Demand

Tuesday, May 29, 2012 9:48AM

Written by Cyrus Langhorne

Young Money's Lil Wayne and Drake may make the Forbes' wealthiest rap list annually, however, the rap duo are reportedly refusing to cough up more than $400,000 in a lawsuit.

Details on the legal matter bubbled online early Monday (May 29).

Lil Wayne and Drake say there is NO WAY IN HELL they're gonna fork over $400,000 to a company that sued them for allegedly bailing on a club appearance ... because they claim they were never told about the gig. The rappers have joined together to fight a default judgment entered against them. The judge ordered the duo to pay $432,337.50 to Imperial Entertainment Group. The company sued, alleging L.W. and Drake promised to perform at a 2011 event but were no shows. (TMZ)

Rather than throw up the dough, both Young Money emcees claim they did no wrong.

The rappers now claim in legal docs ... they were never told about the appearance, never signed ANY contracts and were never even served with papers to show up in court. Drake and Lil Wayne allege that IEG used a third party to book them -- Melanzh Enterprises -- which they claim had no authority to book them. The two want the court to cancel the $400k plus judgment ... STAT. (TMZ)

Last summer, Weezy F. Baby made Forbes' Hip-Hop Cash Kings list.

Jay-Z (aka Shawn Carter) leads all comers once again with $37 million in earnings since last August. A majority of the dough is proceeds from his Blueprint 3 tour. Nipping at his heels, however, is fellow mogul Sean "Diddy" Combs, who raked in a neat $35 million from his Bad Boy record label, his Sean John clothing line and his lucrative Ciroc vodka deal. Kanye West may have landed at No. 3, but he's a ways down there at "only" $16 million. The rest of the top 10 had similar years, revenue-wise, with Cash Money honcho Bryan "Birdman" Williams tying Lil Wayne for the next two spots with $15 million, showing that tha Carter isn't doing too bad, either. (E! Online)

No stranger to large sums of money, Drizzy recently made headlines for selling one of his Miami mansions for over $2 million.

South Beach-based attorney Matthew Krieger represented Miami Heat player Mario Chalmers in the $2.6 million purchase of a five bedroom, six bath condo (created by merging two units together) at the Marquis in downtown Miami. Seller? Aubrey Graham, better known as Canadian rapper Drake. (Miami Herald)

Check out a recent Drake interview below:

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