**Taylor Swift’s Father Made $15.1M from Sale of Her Catalog**
Latest reports indicate that singer Taylor Swift’s father, Scott Swift, made a substantial $15.1 million from the sale of her catalog to Scooter Braun in 2019. The sale, which took place amid controversial circumstances, was conducted through Braun’s Ithaca Holdings company and involved the purchase of Taylor Swift’s original label, Big Machine Label Group, from the then-owner, Scott Borchetta, for a total sum of $330 million.
A representative for the 33-year-old songstress had previously clarified that her father was unaware of the deal and had no insight into the unfolding events to inform his daughter. The absence of any mention of a nondisclosure agreement surrounding the transaction added to the complexity of the situation. According to reports, Scott Swift refrained from participating in a shareholder phone call on June 25 due to a strict NDA that prohibited any discussion without facing severe penalties. Consequently, he opted not to withhold any information from his daughter, leading Taylor Swift to find out about the sale from news articles upon waking up, without receiving any prior communication from Scott Borchetta.
An insider source involved in the high-profile business deal revealed that a pivotal board meeting involving five Big Machine Label Group shareholders took place 48 hours before the public announcement of the sale to Braun. At the time, Borchetta held 90 percent of his company’s stock, ensuring that the deal would have proceeded regardless of circumstances.
Reports further confirm that Scott Swift, a former Merrill Lynch stockbroker, was one of the shareholders of Big Machine at the time of the catalog’s sale to Braun. His ownership of five percent of the stock translated to a $5 million share from the $300 million transaction. It was also disclosed that Scott Swift had made an investment exceeding $500,000 into the company in January 2006, with his team confirming the receipt of the $15.1 million in August 2019.
