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Brock Pierce recently filed a lawsuit against a businessman and family friend named Joseph Lipsey III on charges of stealing the ownership of a hotel located in Puerto Rico. In an interview with the New York Post, Pierce said that he felt "betrayed" since Lipsey knew that the hotel was close to his heart.
Pierce pursued his career as an actor many years ago and later became an entrepreneur and philanthropist. He gained recognition for his performance as Gordon in The Mighty Ducks and D2: The Mighty Ducks, and his net worth is around $2 billion, as per CelebrityNetWorth.
People magazine states that Lipsey took over the hotel's ownership by saying that the former child actor failed to pay back a loan of $10 million that was borrowed from his company. Pierce explained that Lipsey was allowed to control the holding company looking over the resort, but the property was named for Pierce without a legal process that was supposed to take place for 30 days.
Brock Pierce is seeking damages worth $80 million and to alter the transfer. Pierce has an 80% stake in the resort and has also paid $18.3 million for the same in 2021.
The New York Post states that a trial is scheduled to be held this month. However, Lipsey has responded to the lawsuit by describing it as "baseless." While he has taken over the hotel, he is planning to launch it in a renovated form by 2025.
Brock Pierce's acting career has contributed to his earnings over the years
Brock Pierce appeared in a few projects as a child actor but he soon became an entrepreneur by investing in bitcoin. He started his career as a businessman during the 90s and later established a few companies, which have contributed to his net worth of around $2 billion.
He worked in various companies over the years, including Digital Entertainment Network. The company was shut down when one of the co-founders was involved in some legal issues. Pierce is additionally known as the founder of a company called IMI Exchange and the company's revenue was reported to be $500 million in 2005.
Furthermore, Brock Pierce has been involved with companies such as Blockchain Capital and Tether. In 2015, Brock exited the latter and his earnings also witnessed a jump to $1.1 billion in the next three years.
He was also involved with politics for some time and he attended a party with some cryptocurrency experts in 2021. He later launched a campaign as a candidate for the US President the previous year, which didn't go as planned.
Before his career as an entrepreneur, Brock worked as an actor in a few projects. His appearances in The Mighty Ducks films made him a popular face during the 90s. He also portrayed Duke Phlim in a television film titled Problem Child 3: Junior in Love, released in 1995.
Pierce's filmography includes titles like Earth Minus Zero and The Ride. Although he retired from acting in 1997, he later appeared in three documentaries.
