Jay-Z wants $100 million to launch his own record label

March 21, 2008 By Kerry  
Filed under Celebrity News, News


Jay-Z wants $100 million to launch his own record label.
Jay- Z who recently quit his role as president and Chief Executive Officer at Def Jam Recordings wants $100 million to launch his own record label.

A source said that “Jay-Z is asking for way too much. He wants a label to give him $100 million for the Carter Music Group and provide for overhead, development and digital investment. It’s crazy. He wants the label to basically be his venture capital fund - but unlike a venture capital, they won’t get 50 per cent.”

Last year, Jay-Z was named the second highest earning musician in the world by business bible Forbes magazine, with annual earnings of $83 million.

source

Get the latest news in our RSS Feed, Newsletter or follow us on Twitter.

 

Comments

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!