Travis Scott’s career took a huge hit after the Astroworld Festival tragedy that occurred on November 5th. Now, Scott is facing even more fallout as even more lawsuits have been and are continuing to file. As of recent reports, the Houston native may have to cough up an astronomical amount of money to cover the lawsuits. Does Travis Scott have enough in his current net worth to be able to handle what may come? According to reports, the rapper has an estimated net worth around $60 Million.
TMZ is reporting attorney, Thomas Henry has filed a $2 Billion lawsuit on the behalf of 280 alleged victims. According to the news outlet the lawsuit names Travis Scott, Drake, Live Nation and the NFG Staidum. Henry claims the individuals and companies listed were expecting to profit a large sum of money and still chose to cut corners and put 50,000+ festival attendees at risk.
The $2B lawsuit filed by attorney Thomas Henry is the latest. Just two days ago, TMZ reported another Houston attorney Tony Buzbee filed a $750 Million lawsuit for another 125 attendees claiming physical and mental injuries and negligence. One of the individuals filing is a family member who suffered a loss during the festival. Also included in the suit is Live Nation who were the festival’s promoters, as well as Drake, whom Travis Scott added as a surprise guest. Apple is also listed due to their livestreaming of the event.
No doubt a major loss for all of the families who experienced loss, and those fans who suffered from trauma stemming from the festival. For Travis Scott, his pockets will undoubtedly hurt for a while as he deals with the suits. Reportedly, more are expected to be filed. How will he be able to take care of the major financial setback that is potentially to come?
In 2018, Travis Scott was listed in Forbes as a part of their “30 Under 30”, which highlights 600 honorees in 20 different categories such as art & style, education, entertainment, healthcare, and more. The magazine showcased various ventures and other things the rapper had been working on, which brought him to earn over $100 million. StockX CEO Scott Cutler spoke on Travis Scott’s “tremendous influence” on this generation of consumers. “He’s advanced into the stratosphere within a few short years,” noted Cutler.
Outside of a highly successful music career with sold-out tours and multiplatinum selling singles and albums, Travis Scott has alot of other successful ventures attached to his name. The rapper collaborated with AB InBev, the world’s largest brewer, to produce a hard seltzer by the name of Cacti. Forbes also touched on his endorsements with brands like Playstation, McDonalds, and Nike, which generated him millions of dollars.
Travis Scott’s earnings from his brand deals this year, according to Forbes:— XXL Magazine (@XXL) December 1, 2020
PlayStation: $1 million
Nike: $10 million
Fortnite: $20 million
McDonald’s: $20 million
A highly successful live concert on Fortnite for Playstation along with his own menu item in partnership with McDonald’s each brought Travis Scott a reported $20 million. The rapper also announced a partnership with General Mills for a special-edition line of Reese’s Puffs cereal that were available for the price of $50. The taste of the cereal was not altered, however, Scott was reportedly responsible for handling the package’s design.
Scott also has had collaborations with Nike, including the Air Jordan 1 “Cactus Jack” sneaker in 2019 for $160. Reports stated that Travis Scott would make $10 million from his sneaker deals with Nike. But his newest release that was slated to drop with Nike has been delayed following the fallout of the festival. It’s also been reported that some of his songs are being pulled from various promotions, including with the Houston Rockets, and Fortnite has pulled audio featuring his voice from their game.
Fans have also been forging for the cancellation of his upcoming performances in light of the tragedy. A petition began to circulate online in the attempt to have him removed from some upcoming festivals, including Coachella. The organizer of the petition cites his “deliberate recklessness and disregard for safety by encouraging rowdy crowds to rage and rush the security lines is an endangerment to all attendees, and he should be held accountable for his actions.” They’re also petitioning for him not to be able to perform in Texas anymore.
Travis Scott pulled out of his scheduled performance at Day N’ Vegas last weekend, as well as a scheduled concert performance for Abu Dhabi’s F1. Following the Astroworld Festival tragedy, it was announced that all tickets will be refunded to those who were in attendance.