Reggaeton star Daddy Yankee, wife resolve business dispute / Photo: © AFP
Reggaeton star Daddy Yankee, wife resolve business dispute
Reggaeton superstar Daddy Yankee on Friday announced he had reached a legal deal with his soon-to-be ex-wife to retake control of his companies, after accusing her of embezzling tens of millions of dollars from him.
The legal saga pitting Daddy Yankee -- who shot to global fame in 2004 with his monster hit "Gasolina" -- against wife Mireddys Gonzalez began last week, shortly after the couple announced their plans to divorce after 29 years of marriage.
The 47-year-old singer filed a motion in a San Juan court against Gonzalez and her sister Ayeicha Gonzalez, alleging that the pair withdrew $80 million without his authorization from an account belonging to his company El Cartel Records.
He also says they took $20 million more from Los Cangris, another of his business ventures.
Daddy Yankee -- whose real name is Ramon Ayala Rodriguez -- asked the court for full control of the companies that he created, as well as access to bank accounts and the handover of all corporate information, according to court documents.
After hearing from both sides, Judge Anthony Cuevas asked them to try to work out a deal.
It only took about an hour of private discussions before Daddy Yankee -- also known for "Despacito," which he released with Luis Fonsi -- emerged to tell reporters he was retaking control of his businesses.
"I have gone through this process with much peace," said the singer, who asked for respect for Gonzalez.
His legal team said the deal entails the transfer of functions at El Cartel from Gonzalez, who is currently the company's president, to Daddy Yankee on December 26.
Both sides decided that assets in the corporate bank accounts would be left untouched for an unspecified period of time, and that going forward, any transaction of more than $100,000 must be authorized by both parties.
Gonzalez will remain a shareholder in the companies.
Daddy Yankee's attorney Carlos Diaz Olivo had told the hearing that the musician could not continue his career without having access to all accounts and company documents.
Gonzalez's attorney Luis Sanchez Betances denied that the sisters stole $100 million, instead claiming that a $100 million "dividend" had been split equally between the accounts of Daddy Yankee and Gonzalez.
The couple, one of the longest-lasting in the Latin music scene, is settling their divorce in a separate court. They have two daughters together, and Daddy Yankee is father to a third daughter from a previous relationship.
Daddy Yankee did a massive farewell tour in 2023 and said he was retiring from music, but released a handful of singles this year.
(Y.Ignatiev--DTZ)
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