Irv Gotti Talks About Signing $300M Deal
Irv Gotti Talks About Signing $300M Deal
The man who has had a hand in several major rap artists’ careers like Jay-Z, Ja Rule and DMX has signed a “life-changing” deal worth $300 million.
According to HipHopDx, Irv Gotti, CEO of the Def Jam-distributed Murder Inc. recording label has signed a $300 million deal as he sells a 50 percent ownership stake of his masters to Iconoclast. With this deal, he will also receive funding for various film and television projects.
Speaking to World Star Hip Hop during last weekend’s 2022 BET Awards in Los Angeles, Gotti broke it down regarding his deal.
“I had a conversation with a billionaire friend of mine, my man Marc Lasry, he owns the Milwaukee Bucks, I’ve known him for like 20 years. He drilled in my head, ‘You can’t sell what you don’t own,’ and it resonated with me.
“I’m signing a deal worth $300 million. I’ma tell you what it is: $100 million of the deal is me selling my masters. What my billionaire n**ga was saying, he’s absolutely right. 20 years later, my masters — and I only own half, I own 50-50 with Universal Music Group — half my masters is worth $100 million. That’s f**king insane!”
The Murder Inc. founder also expresses the next step of his entrepreneurial journey as he is about to enter the world of television.
“Not only is the company buying my masters, but they’re giving me like a $200 million line of credit for me to not just produce and create, but now own my television [properties].”
Gotti took the news to his Instagram account to tell the world that he sold his past to ignite his future!
Gotti was responsible for creating and starting his own label, Murder Inc. Records while working with Hip-Hop heavyweights who went on to sell millions of units even at the start of their careers. His label housed legendary artists Ashanti, Ja Rule, Charli Baltimore, Lloyd and Vita to name a few. As an A&R executive, he worked with the likes of Jay-Z, DMX, Mic Geronimo, and other Def Jam artists.
Irv Gotti Talks About Signing $300M Deal
