Perri Pebbles Reid net worth 2023: The dark tale of TLC going bankrupt in the ’90s

Perri Pebbles Reid net worth: In 1997, Pebbles stopped making modern music. Before that, she was a successful R&B artist with a string of hits to her name. She also established a band that became hugely successful, with nine of their songs reaching the top ten on the Billboard Hot 100.

After 12 years away from the spotlight, she made her theatrical comeback in 2008. She came back to music, but not as an R&B singer this time, but as a gospel performer.

Perri Pebbles Reid net worth

Perri Pebbles Reid net worth
Perri Pebbles Reid net worth

Perri Pebbles Reid is a multi-instrumentalist with a $20 million net worth and many Grammy nominations. Perri Pebbles Reid is a successful pop and R&B singer who has also amassed a considerable fortune because to the numerous songs she has created and produced through her label, Pebbitone.

Outside of the mainstream music industry, she is better known as Sister Perri, under which moniker she has made several successful gospel albums. Reid’s songs “Girlfriend,” “Mercedes Boy,” and “Giving You the Benefit” all peaked in the top ten on the “Billboard” Hot 100 list, while her studio albums “Pebbles” (1987), “Always” (1990), “Straight from My Heart” (1995), and “Prophetic Flows Vol I & II” (2008) are all highly regarded.

In the early 1990s, Perri’s firm, Pebbitone, was credited with discovering and nurturing the girl group TLC. With an estimated 65 million records sold throughout the world, TLC went on to become one of the best-selling female groups of all time.

Disputes arose between TLC and Pebbles when the group felt their money was being mismanaged and they felt they had been treated unfairly in their first record agreement. In 1995, TLC sought bankruptcy protection to get out of their agreement with Pebbitone.

Reid is an ordained preacher and the founder of Women of God Changing Lives Ministries; she also produced the upcoming 2021 TV movie “Whitney Houston & Bobbi Kristina: Didn’t We Almost Have It All.”

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Pebbles Reid Claims TLC’s Chilli Had an Affair With Ex-Husband L.A. Reid, Slams VH1 Biopic

It seems like TLC’s issues with previous manager Perri “Pebbles” Reid wasn’t limited to monetary issues. Now, two decades after the publication of TLC’s debut album Ooooooohhh… and three weeks after the broadcast of VH1’s CrazySexyCool biopic about the hit 1990s girl group, we finally have an answer.

Pebbles, formerly of the girl group TLC, has decided to share her version of events with fans and explain why she and bandmates Tionne “T-Boz” Watkins, Lisa “Left-Eye” Lopes, and Rozonda “Chilli” Thomas had a falling out.

On Wednesday, November 13, Pebbles appeared on The Wendy Williams Show to refute allegations that she was responsible for the bankruptcy of the trio due to poor financial management. She also levelled some accusations of her own, including that Chilli had an affair with her then-husband L.A. Reid.

The dark tale of TLC going bankrupt in the ’90s

The members of TLC claim that as the group became more successful, they also accumulated more debt. Tionne “T-Boz” Watkins, Rozonda “Chilli” Thomas, and the late, great Lisa “Left Eye” Lopes are all legends in the music industry thanks to their combined total of ten major awards, including four Grammys, five MTV Video Music Awards, and five Soul Train Music Awards.

They left an indelible mark on R&B history, but on July 3, 1995, T-Boz, Chilli, and Left Eye filed for Chapter 11 bankruptcy, listing $3.5 million in obligations between them.
Less than a year ago, TLC dropped CrazySexyCool, which featured classic hits like “Waterfalls” and “Creep.” They had achieved both critical and commercial success, with their album staying on the Billboard 200 for nearly two years at its high position of #3.

The album debuted at position five on the ARIA albums list and went on to sell 14 million copies worldwide, earning two platinum certifications in Australia. The Recording Industry Association of America has certified CrazySexyCool as reaching diamond 11 times in the United States, making it the first album by a female American group to ever obtain such a high honour.

Perri “Pebbles” Reid sues Viacom

After the release of “CrazySexyCool: The TLC Story,” former TLC manager Perri “Pebbles” Reid filed a $40 million lawsuit against Viacom. As reported by the Atlanta Federal Court, Reid alleges the 2013 VH1 movie depicts her as “a crafty and dishonest businesswoman who hoodwinked three young girls and used their potential for her own personal advantage.”

Suggesting that Viacom “ignored fundamental canons of journalistic and literary ethics by publishing false and defamatory claims with genuine malice,” Reid, an R&B singer who has sold over 4 million records herself, files suit.

Contrary to what viewers of VH1 observed, Reid never had any influence over TLC’s attorneys or accountants, never withheld contract conditions from TLC, and always paid the group what they were promised, according to the lawsuit filed late on Friday.

Chapter 11 bankruptcy was filed by TLC after they sold 11 million copies of their album “CrazySexyCool” in 1994. When the ladies sued LaFace Records and Pebbitone, Reid’s management company, they claimed they were paid just $50,000 per year in 1993 and 1994, while record company executives argued TLC simply filed to void their contracts.

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