James Reid has finally opened up about a valuable life lesson he learned while running his own management firm, Careless.
James Reid (Photo: Karen Davila/YouTube)
In an interview with Karen Davila, James revealed that he lost a large amount of money after being “betrayed” by a business partner.
“It was an expensive lesson,” James said, sharing that he has allegedly lost over P100 million and is still resolving the issue as of writing.
“I’m still trying to resolve that, but he left the country, so I don’t think that’s happening anytime soon,” he stated. “It was never about the money; it was the betrayal that hurt the most.”
“But going through that kind of challenge really built a lot of character, and it taught me so many things, so many life lessons that I don’t think I would’ve learned in any other way,” he candidly shared.
In a 2024 interview with Ogie Diaz, the actor alleged that his former business partner at Careless, Jeffrey Oh, owed him over ₱100 million. He also claimed that Jeffrey made undocumented transactions and signed business deals without his knowledge.
“I had no idea a lot of this was happening. It was actually happening for months, and [Jeffrey] had kept me separate from the rest of my team, kept me in the dark about all of these business dealings,” the Never Not Love You actor told Ogie.
“Wala, he left. He tricked me. I’ve been working with them for a very long time, and it turned out he wasn’t the person he said he was,” he added.
Meanwhile, Karen also mentioned Liza Soberano, who was previously under Careless. However, Liza has parted ways with the management and decided to pursue a solo career in the United States.
“No… I don’t need an apology or explanation at all. She really wanted to focus on her career sa US, so we parted ways. I have no ill feelings or ill will towards her. I’m very happy for her. I’m proud of everything she’s achieved sa US,” he responded.
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