Irv Gotti Sells Half His Masters for $100 Million

Irv Gotti Sells Half His Masters for $100 Million

Published Thu, June 30, 2022 at 11:30 AM EDT

Irv Gotti announced on Tuesday (June 28) that he sold half of his ownership in his masters to Iconoclast.

"I'm signing a deal worth $300 million", Gotti told World Star Hip Hop. "I'ma tell you what it is. $100 million of the deal is me selling my masters. I own 50-50 with Universal Music Group — half my masters is worth $100 million. That's fuckin' insane! Not only is the company [Iconoclast] buying masters, they're giving me like a $200 million line of credit for me not just to produce and create, but to own my own television [interests]."

Iconoclast started music rights acquisition earlier this year when they acquired the rights to Robbie Robertson's music publishing, name and likeness.

Gotti recalled the conversation that prompted him to sell his masters.

“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."

The mogul held back tears as he signed the deal.

"It's a big day for me," he said. "I'm signing a deal that's basically gonna change the lives of my family. My sons, my daughter — I can't help but think about them."

Irv has produced hit records for Ashanti, Ja Rule and Jennifer Lopez, and collaborated with Jay-Z, DMX and Kanye West. After a 2003 investigation and raid on Murder Inc's New York offices which led to charges of money laundering, they changed their name to The Inc. In 2005, Irv and his brother Christopher were acquitted of all charges.

Related News


Mic Geronimo: Forever An Emcee's Emcee

Jul 07, 2021

 Irv Gotti and Ja Rule attends as WEtv celebrates the premieres of Growing Up Hip Hop New York and Untold Stories of Hip Hop on August 19, 2019 in New York City. (Photo by Dia Dipasupil/Getty Images for WEtv)

Ja Rule and Irv Gotti On Former Critics: "It's Cool Now To Love Murder, Inc."

Mar 25, 2022

Irv Gotti

Producer Claims Irv Gotti Stole His Beats For DMX's '...And Then There Was X'

Jan 19, 2022

What's new