Billionaire investors like George Soros are getting dragged into the vicious battle between pop star Taylor Swift and manager-to-the-stars Scooter Braun, who recently bought the rights to her old music.
In a speech Thursday night at the Billboard Women in Music, Swift called out Braun’s financial backers by name, including “the Soros family, 23 Capital and the Carlyle Group.”
She described them as members of “the unregulated world of private equity” that is proving a “potentially harmful force” on the music industry.”
“[They’re] buying up our music as if it is real estate,” she complained. “As if it’s an app or a shoe line.”
None of the investors named by the pop singer would comment for this story, although one source said he was stunned that the normally staid world of private equity was even mentioned at a rock ‘n’ roll event.
Swift, who delivered her digs from the stage of Los Angeles’ Hollywood Palladium, where she accepted Billboard’s inaugural “Woman of the Decade” award, has been feuding with Braun since June when he purchased her former label, Big Machine Label Group, for a reported $300 million.
Swift claims to have lost her “music outright” when Big Machine — her former record label, which owned the masters to her first six albums – sold itself to Braun.
The 29-year-old singer has called Braun acquiring the catalog — ranging from her 2006 self-titled debut album through 2017’s “Reputation” — a “worst case scenario” and accused him of indirectly bullying her on social media.
Braun says he’s reached out to the “Lover” singer numerous times to clear the air to no avail, according to Page Six.
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December 14, 2019 at 04:47AM
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Private equity stunned to be dragged into battle between Taylor Swift and Scooter Braun - New York Post
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