(WJBK) - Eminem is one of the best rappers on the planet and his music made him a multi-millionaire. Now, it could boost your income as well.
Shares of Eminem's rap catalog are going public in a groundbreaking investment idea. The formal process started Wednesday to make it possible for you, the public, to own Eminem stock.
It's a complicated explanation of why. In 2011, Ferndale's FBT Productions - which owns royalties for all of Eminem's music - filed a lawsuit against Aftermath Records, that's Dr. Dre's former company. The lawsuit was to determine who gets royalties for the digital music sales of Eminem's catalog.
FBT won in the lower court. It was appealed to the Supreme Court who didn't hear the case, which meant the lower court's decision would stand.
The lawsuit defined digital music and allowed the public to buy the catalog.
Eminem himself is not part of this royalty deal. He gets his own royalties. But if you want to buy the stock, when it's approved, it’ll cost you about $2,250 per share.