If Shawn Corey Carter aka Jay-Z knew he would one day be on the cover of Forbes Magazine alongside Billionaire Warren Buffet, then he was a man who truly knew his talents was beyond comprehension.
I’m in awe of this Rapper, Entrepreneur and Black Man that emanates “Pure Success”!
Young artist out there please take note:
The Keyword is “ownership, ownership, ownership” of master recordings.
"The property in question is Jay-Z's set of master recordings, also known as mechanical rights or simply masters. When most artist sign record deals, they give up these rights in exchange for an advance payment, a smaller royalty of 10-15% on music sales and the prestige of recording an album for a major record label.
The label either keeps these rights and profits from every radio play, every digital download, every album sold--or sells the masters to a third party who reaps the benefits instead.
When Jay-Z signed on to become Def Jam's president in 2004, he shrewdly negotiated the return of his masters in addition to an annual salary approaching eight figures. Though he left Def Jam in 2007 and a year later launched Roc Nation, a joint-venture label with concert promoter Live Nation, his Def Jam masters are scheduled to revert to him in 2014. As part of a separate deal with EMI, his publishing rights -- which cover the use of songs in television commercials, sampling by other artists and more -- will return to him in 2013, combining to form an incredible asset."
It's a valuable catalog, "says Ryan Schinman, chief of Platinu, Rye, the world's largest buyer of music and talent for corporations." "Jay-Z was obviously a very smart negotiator to get the rights back. Now he can keep them or sell them again."
2010 is clearly his year and in my opinion he deserves "Entrepreneur of the Year".
I hope he can touch the lives of young men and mentor them into being the best they can be.
This mogul has a stake in Rocawear, co-owener of The 40/40 Club, part-owner of New Jersey Nets NBA team and in 2005 became an investor in one of my favorite line of beauty products Carol's Daughter alongside Mary J. Blige, Will & Jada Pinkett-Smith and Founder Lisa Price aka Carol's Daughter.
Word on the street is he may suit well if he out right buys Carol's Daughter.
In 2010 his single "Empire State of Mind" sold over 4 million copies, and that's just a single. His album sells worldwide are astronomical.
At the tender age of 40 years young he's just getting started.
Forbes said it best Jay-Z and his wifey Beyoncé Knowles may already be music's "first billion-dollar couple". Now wouldn't that be something!
BLACK STAR POWER . . . You Got to Luv It!
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