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Jay-Z Gets 150 Million to Ditch Def Jam

Submitted by dyfuse on Thu, 04/03/2008 - 08:59.
Jay-Z Gets 150 Million to Ditch Def Jam

Love him or hate him, Jay-Z gets money! According to the New York Times, the Brooklyn born rapper has signed a deal with the concert moguls (Live Nation). They have signed other huge artists, including Madonna and U2 but never someone within the Hip Hop world. In fact, The Queen of pop, Madonna only received 120 Million.

As part of the $150 Million deal, Jay-Z will have to release a minimum of 3 albums during this 10 year contract. He can't worry because will get a reported 10 million dollar advance per album! The name of this venture if RocNation and it will split it's profits with Live Nation. Jay-Z will release his final album for Def Jam later this year.

So, for all of you laughing at him when he said he was stepping down you can cut the laughter. He is about to do some huge things, especially for a Hip Hop artist!
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