Rolling Out

Irv Gotti gets emotional as he sells masters in $300M deal (video)

The hip-hop mogul says the deal changes his family’s life
Irv Gotti gets emotional as he sells masters in $300M deal (video)
Irv Gotti (Photo credit: Rashad Milligan for rolling out)

Irv Gotti has a lot to celebrate. The co-founder of Murder Inc. Records signed away his masters to Iconoclast for $300 million.

He celebrated the signing with an Instagram post.

“I’m a little uh-” Gotti said in the video. “This is a big day for me. I’m signing a deal that’s basically changing the lives of my family. My sons, my daughter, you know what I’m saying? And I can’t help but think of if Poppi was here.”

Gotti sold his masters for $100 million and Iconoclast gave him $200 million of credit to fund his future film and television projects.

He also reflected more in the post’s caption.

“Also thinking about my beautiful kids,” the caption read. “No money. To this … I sold my past to ignite my future.”

Murder Inc. Records, under Def Jam, have featured legendary acts like Ashanti, Ja Rule, and the label also briefly built a hip-hop supergroup trio Murder Inc., which featured Ja Rule, Jay-Z and DMX. Lloyd, Vanessa Carlton and Black Child were also signed to Gotti.

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