Moneybagg Yo Former Manager Suing Him And Roc Nation For 100 Million

The woman who says she helped build Moneybagg Yo from the ground up is coming for everything. Former manager Sherry Jackson-Floyd filed a multi-million dollar lawsuit against the Memphis rapper, his label Bread Gang Enterprises, and Roc Nation, seeking $100 million in damages.

What She Claims

According to the lawsuit filed in Shelby County, Floyd says when she met Moneybagg Yo in 2015, he was averaging $1,500 to $2,500 per show. She took over as his personal and business manager, registered his trademarks, legally established Bread Gang Enterprises as an LLC in Tennessee, and handled daily operations.

Her attorneys claim she put down $125,000 on a Rolls-Royce for the rapper, contributed between $1.5 million and $2 million to the Moneybagg Yo brand, paid off his credit cards, bought him $50,000 in jewelry, funded his social media presence, and even helped care for several of his children.

The Promises She Says Were Broken

Text messages entered as evidence allegedly show Moneybagg Yo promised Floyd $5,000 a week and a $150,000 Mercedes G-Wagon. The suit also claims he promised her one-third interest in all past and future brand revenue. She says she never received a dime.

By 2017, with Floyd managing him, Moneybagg Yo reportedly earned around $3 million in his most successful year to date.

Why Roc Nation Is Named

Floyd's attorney Ralph Gibson says Roc Nation knew about Floyd's existing management contract before signing Moneybagg Yo, but moved forward anyway without honoring her investments or negotiating a buyout.

The case alleges intentional interference with contract on Roc Nation's part. The trial is set for October in Shelby County.

The Fallout

Floyd claims the rapper failed to make payments on accounts linked to her credit, destroyed her credit score, and ultimately caused her to lose her bank job. She went from building his brand to losing her livelihood.

Bottom Line

This is a $100 million lesson in getting contracts in writing and honored. Floyd says she invested millions of her own money and time into making Moneybagg Yo a star, and got nothing in return. October's trial will determine if the courts agree.