Swizz Beatz & Timbaland Say They Still Own 100% Of "Verzuz"

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Summer Jam 2018
EAST RUTHERFORD, NJ - JUNE 10: Swizz Beatz and Timbaland perform during the 2018 Hot 97 Summer Jam at MetLife Stadium on June 10, 2018 in East Rutherford, New Jersey. (Photo by Taylor Hill/WireImage)
Swizz Beatz and Timbaland have clarified the ownership of "Verzuz."

Swizz Beatz and Timbaland say that they still own 100% of Verzuz, despite reports that the two sold a majority of the shares to Triller back in March 2021. The two spoke about the state of the series on Instagram Live, Saturday.

“Verzuz is still 100 percent Black-owned,” Swizz said on the broadcast. “50 percent on the top of your screen, and 50 percent on the bottom of your screen. In case you ain’t know. Word to Allah. Okay? It was built for the people, and it will stay with the people. And we love everybody.”

Swizz Beatz With Timbaland

MIAMI, FL - DECEMBER 4: (L-R) Recording artists Swizz Beatz and Timbaland attend The Dean Collection X BACARDI Untameable House Party on December 4, 2015 in Miami, Florida. (Photo by Frazer Harrison/Getty Images for Bacardi)

As for the news of Triller purchasing majority ownership of the show, it stems from a report from Variety in 2021. The outlet stated that Triller Network acquired the platform while allowing Swizz Beatz and Timbaland to keep hold of some shares of the company and join the Triller management team. They also “allocated part of their equity stake to the 43 performers who’ve appeared on Verzuz to date to help oversee music and other company strategies."

“There is no more disruptive and innovative brand in music today than Verzuz,” Bobby Sarnevesht, executive chairman and co-owner of Triller, said when announcing the acquisition. “Both Triller and Verzuz share the ‘artist first, music first’ vision. We view this acquisition as more of a partnership than an acquisition, as Swizz, Timbaland and the other 43 artists who are all becoming shareholders and partners in Triller Verzuz from this day forward become our voice.”

Swizz Beatz & Timbaland Discuss "Verzuz"

Things took a turn in September 2022, when The Hollywood Reporter revealed that Swizz and Timbaland settled a lawsuit they filed against Triller’s CEO, Ryan Kavanaugh. They claimed he failed to come through with the $28 million infusion of capital that he was supposed to provide with the acquisition. The outlet also confirmed Kavanaugh’s Proxima Media to be the current majority owner of Verzuz.

[Via]

About The Author
Cole Blake is currently an Editor at HotNewHipHop based out of Brooklyn, New York. He began working at the site as an intern back in 2018 while studying journalism at St. John’s University. In the time since, he’s graduated with a bachelor's degree and written extensively about a wide range of topics including pop culture, film & television, politics, video games, sports, and much more. He’s also covered music festivals such as Gov. Ball and Rolling Loud. You can find him publishing work for HNHH from Monday to Wednesday or on weekends. On the sports front, Cole’s a passionate NBA and NFL fan with his favorite teams being the Indianapolis Colts and Los Angeles Lakers. He also roots for the Yankees whenever he finds himself at Yankee Stadium or the Red Storm when in the company of other SJU alumni. His favorite hip-hop artists are billy woods, Earl Sweatshirt, Cam’ron, MIKE, and Mach-Hommy.
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