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Holy:Jay just sold Rocawear for $204 MILLION

A pimp named Sarkozy

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I don't think Jim Jones has seen 204 million 8O

Dame Dash just got F*cked out of like YELLLLLLLLLLLOW(he must b cryin in dark corner somewhere in his house) :lol: on some shit like"Dear lord,i appreciate what i have" :lol:

on the real,Like him or not you have to respect his business hustle! Jay is truly setting the blue print that a lot of emcees and young black males need to follow. All I am waiting on now is for one of these dudes to step in to the TECH industry and Real Estate or even own distribution companies.


TNGlive

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Oh sh!t. Where's the link to that story Rip? If true that makes dude half way to a billion!


TNGlive

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Never mind I got it. Iconix coughed up that loot. Big sh!t tho. Grown man sh!t.

It's 205 million by the way.

Credit to LA Times
Quote

Jay-Z will be in charge of all of Rocawear's product development, marketing and licensing, and his senior management team will stay on board, the company said. Jay-Z's partners, Alex Bize and Norton Cher, will become the licensees for the core business.


But here's the thing

Quote

The rapper and Iconix also will launch a joint venture to buy and develop more brands, starting with a luxury line called Shawn Carter Collection with suits, watches and fragrances. It will debut next year. Cole expects it will sell in high-end stores such as Saks and Neiman Marcus.


These business moves are gangsta.



TNGlive

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Hmmm. He has'nt sold it per se, just sold the rights of Branding...meaning he still has ownership stake...which means some of that 205 mill is actually going to go into growing the biz, and then some change into dude's pocket...if so, even smarter. Coz by next year, revennue for Roc will be over a billion, a significant amount being profit ofcourse. Jazz is hellava interesting. +Plus he got the GM exec thing, the Coca Cola "Cherry Plum" thing (shout out to Cherry Plum flavour's come back..that was the best flavour).


SolitaryNative

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Quote from: "TNG"
shout out to Cherry Plum flavour's come back..that was the best flavour


^ROFLMFAO! hehe

About J, who can hate on such achievement?  Well done this dude is freakin smart man.  Haterprufe.


A pimp named Sarkozy

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Quote from: "TNG"
Hmmm. He has'nt sold it per se, just sold the rights of Branding...meaning he still has ownership stake...which means some of that 205 mill is actually going to go into growing the biz, and then some change into dude's pocket...if so, even smarter. Coz by next year, revennue for Roc will be over a billion, a significant amount being profit ofcourse. Jazz is hellava interesting. +Plus he got the GM exec thing, the Coca Cola "Cherry Plum" thing (shout out to Cherry Plum flavour's come back..that was the best flavour).


Yeah! man.That's Real Balling !!! True Definition Of A Hustler,But
Im extremely happy that he sold his biz for 205M! However, when will we realize that we have to start holding on to our black owned corporation for years 2 come & not sell it,this is what the author of Capitalist Nigger has been preaching all along. :?


TNGlive

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Quote from: "Rip_the_jacker"

However, when will we realize that we have to start holding on to our black owned corporation for years 2 come & not sell it,this is what the author of Capitalist Nigger has been preaching all along. :?


Iconix is a different type of Apparel Company, they just buy the rights. Admin and running of the purchsed brands remains in the hands of the previous execs, with them adding more capital and expertise.

Now with this deal, Jay sold those rights-through his Roc Apparrel Group, still has his ownership stake in it, Iconix will on top of that 205mil pay 30 mill in purchasing the Roc's shares if the targets they have set are reached by the end of this year. So, Jay gets this company funding the expansion of Roc A Wear from a 700mill sales revenue per year to a billion + revenue per year, pays him to "hop" on board and make this happen, then will pay more to stay on onboard when this happens.

I think he got this one right, did'nt sell his black owned cooperation...(Which in fact is white owned if you look at the numbers..2White partners and 1 Jay...if the onwership was equally divided ofcourse. )


A pimp named Sarkozy

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Quote from: "TNG"
I think he got this one right, did'nt sell his black owned cooperation...(Which in fact is white owned if you look at the numbers..2White partners and 1 Jay...if the onwership was equally divided ofcourse. )


I hear ya playa.

I highlighted people some you might be into


10. Jermaine Dupri & Nelly (Tie) – $60 Million
For the number 10 spot we have a tie between So So Def’s Jermaine Dupri and the St. Lunatics’s Nelly. In 2006 their estimated net worth came in at $60 Million(respectively).

Jermaine Dupri
With a music career spanning over 10 years, Jermaine Dupri has risen to the top amongst Hip Hop’s Power Players. Founder, President, and CEO of So So Def Records, Dupri earned most of his fortune from songwriting royalties by ghostwriting for acts on his label. Da Brat, Jagged Edge, Xscape, Kriss Kross, and Bow Wow have all been under Dupri’s umbrella. His current roster includes Young Capone, Dem Franchize Boyz, Da Kid Slim, Daz (aka Daz Dillinger & Dat Nigga Daz), T. Waters, and Johnta Austin. He has also produced numerous smash hits such as Welcome To Atlanta and Money Aint A thang.

Nelly
Breaking out into the music scene in 2000, Nelly quickly established himself by bringing a new sound to hip hop with the smash hit, Country Grammar. With over five number 1 singles and 4 Grammies, Nelly has build his fortune to a net worth of $10 million dollars. While other rappers stick to music, Nelly has many other business endeavors. In 2005 he co-starred in the Longest Yard along side Adam Sandler, Burt Reynolds, and Chris Rock. He also has a part in the clothing Lines, Vokal and Apple Bottoms.
9. 50 Cent – $100 Million
Debuting in 2003, 50 Cent Sky rocketed to fame with his first major debut album, Get Rich or Die Trying. Selling 872,000 copies within its first week, Get Rich or Die Trying went platinum within 2 weeks of it’s release and broke the record for first week sales of any major label debut in the history of the Soundscan era.
Since then, 50 has ama**ed his fortune by branching out into other mediums such as Television, Movies, Books, and Merchandise. He has stakes in Vitamin Water (Formula 50), Reebok Sneakers (G Unit kicks), G Unit’s Clothing line, Video Games (50 Cent Bullet Proof), Movies (Get Rich or Die Trying, Home of the Brave, The Dance), and recently has launched G Unit Books.

8. Eminem – $110 Million
Even with being MIA for most of 2005, Eminem’s net worth in 2006 came in at an estimated $110 Million. Eminem’s triple platinum debut album, The Slim Shady LP moved over 1.5 million units in its first week. Soon after, The Marshall Mathers LP was released in May 2000, quickly selling two million copies and becoming the fastest selling rap album of all time. Em’s third major album, The Marshall Mathers LP, debuted at #1; selling over 1 million copies within a week.

Aside from records sales, Eminem also leads his own record label, Shady Records, and has produced records such as Jadakiss’ “Welcome To D-Block”, Jay-Z’s “Renegade” and “Moment of Clarity” Lloyd Banks’ “Warrior Part 2”, and “Hands Up”, Tony Yayo’s “Drama Setter”, Trick Trick’s “Welcome 2 Detroit,” and Xzibit’s “My Name” and “Don’t Approach Me”. He also has stakes in fashion with his trademarked clothing line, Shady Unlimited and starred in the Block Buster movie 8 mile.
7. Ice Cube – $145 Million
Number 7 might come as a surprise to many. In 2006, Ice Cube’s net worth was estimated at a whopping $145 Million. Being one of the originators of “Gangsta Rap”, Ice Cube has been in the game for over 16 years and is no doubt one of the richest MCs out of the West Coast. With 6 of 10 solo albums going platinum, Ice Cube has managed to become a quiet heavy hitter in the industry. He has produced over 11 movies and has starred in over 20.
6. Dr. Dre – $150 Million
Grammy Award-winning hip hop producer, rapper, actor and record executive, Dr. Dre has an estimated net worth of $150 Million in 2006. Founder and CEO of Aftermath Records and former co-owner of Death Row Records, Dre has produced albums for and overseen the careers of some of the biggest stars in rap music, including Snoop Dogg, Eminem, 50 Cent, The Game, and Busta Rhymes. With over 80 million records sold, he is widely regarded as one of the most popular and powerful figures in rap music of all time.
5. Neptunes, $155 Million
Making their name known to the world through numerous productions, the Neptunes duo has managed to ama** their fortune to staggering figures. In 2006, their estimated net worth came in at $155 Million. Aside from production money,they have stakes in fashion with one of the most expensive urban fashion lines, BBC (Billionaire Boy Club. They also run their own label, Star Trek, which features artists such as Snoop Dogg, Slim Thug, and Robyn Thicke.




4. Damon Dash, $200 Million
At number 4 we have what may come as a surprise to many of you. However, former Rocafella Exec Dame Dash, has been making big moves in the last couple of years. In 2004, Dash sold his stake in Roc-A-Fella records to Def Jam records for $10 million. He then founded the Damon Dash Music Group with the senior record company. Dash also had a stake in the million dollar a year, Rocawear clothing line; which he sold to Jay Z for $30 Million. Dash’s other businesses include America Magazine, Armadale Vodka, Dash Management, PRO-KEDS, Team Roc, Tiret Watches, the Rachel Roy Clothing Line, an investment in New York nightclub The Plumm, and Dash/DiBella Boxing. His estimated net worth for 2006 came in at $200 Million.

3. Russell Simmons, $325 Million
Co-Founder of what’s no doubt the worlds most famous Hip Hop music label, Def Jam Records, Russell Simmons comes in at number 3 with a net worth of $325 Million. After selling his stake in the record company for $100 million to Universal Music Group in 1999, Simmons launched numerous projects including, Def Poetry Jam, Def Comedy Jam, a management company, a clothing company called Phat Farm, a movie production house, a magazine, and an advertising agency. He also partnered up with a financial institution and released a line of re-loadable Visa debit cards.

2. Jay Z, $340 Million
At number 2 we have the current president and CEO of the aforementioned Def Jam Records and the Roc-A-Fella empire. In 2006, Jay z’s estimated net worth came in at $340 Million. Aside from his multi platinum records selling career, Jay Z has stakes in numerous businesses. His multi-million dollar company, Roc-a-fella, is home to some of raps most famous names and it’s made up of Roc-A-Fella Records, Roc-La-Familia, Roc-A-Fella Films and Rocawear. He also Co-owns the upscale sports bar, The 40/40 club which started in New York City and has since expanded to Atlantic City, NJ. Future plans will see 40/40 Clubs in Los Angeles, Las Vegas and Singapore. Roc-A-Fella also distributes Armadale, a Scottish vodka, in the U.S.

Jay-Z is also working as a co-brand director for Budweiser Select, collaborating with the company on strategic marketing programs and creative ad development. He will be providing direction on brand programs and ads that appear on TV, radio, print, and high-profile events.

He is currently a minority owner of the New Jersey Nets and is the face of many products through sponsor deals.

1. P. Diddy $346 Million
P. Diddy, Diddy, Puff Daddy, Poppa diddy pop, he migh’ve been going through an identity crisis over the years; but I’ll tell you one thing is certain. Sean “Diddy” Combs is the richest man in hip hop. In 2006 his net worth was estimated at a mind blowing $346 Million. Wether it’s tv productions, movie productions, clothing lines, music, or colognes, Diddy will market it and make millions off it.

Diddy presides over a media empire that includes the record label Bad Boy Records, the clothing lines Sean John and Sean by Sean Combs, a movie production company, and two restaurants. He has taken the roles of recording executive, performer, producer of MTV’s “Making the Band,” writer, arranger, clothing designer, and Broadway actor.

In 2006, Diddy’s signature “Unforgivable” men’s cologne, became the top selling fragrance of ‘06 averaging sales between $1.3 million and $1.5 million per week. Fragrances typically sell $650,000 per week.

Honorable Mentions:
R.Kelly’s net worth for 2006 came in at $150 Million, however, since he’s more R&B than hip hop, he was left out. Janet Jackson also came in at $150 Million, but she was left out because she’s pop.

Kanye West should be showing up on one of these lists soon. He has a line of movies coming out and his Touch The Sky tour grossed $16.9 Million last year.

Master P Didn’t make the list simply because he’s just not that rich. Lets not forget he filed for bankruptcy a few years back.

Will Smith is more of an actor than a rapper, he isn’t in hip hop enough to be considered.

For those of you who were wondering who the richest man in the music industry is, The Beatles’ Sir Paul McCartney, is worth $3 ‘Billion’ dollars.


TNGlive

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Quote
Sir Paul McCartney, is worth $3 ‘Billion’

..and Sir McCartney does'nt even read music.  :wink:

Quote
Will Smith is more of an actor than a rapper, he isn’t in hip hop enough to be considered.

..I think that's just hating though.

Quote
Master P Didn’t make the list simply because he’s just not that rich. Lets not forget he filed for bankruptcy a few years back.

..and to think that at it's highest point, Sony wanted to buy No Limit for 700 million dollars. Dude turned it down :x . Went and got a gold toilet. :x


zoolooo1

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Id like to a cat from SA do big things on this level...........But for us to make money on this level we have to smarted up. A rapper in SA wont make as money on clothing and movies etc.....get ur money in the game and then venture out into resources. Its all about making the right connects and speaking the language that niggas in the big league understand!!! Then from there u can venture into fashion and shit with funds acquired from sweet deals made in mining! But to get there u got to be a shrewed bisnessman.......u cant make multimillions without steppin on toes......listen to my music, get schooled about how to make big chingg and learn about the rules of how to do it......The r no rules, its survival of the fittest.......I cant rest until i live my dreams, and i will!!! Atleast a net of worth R500mil......then il relax and live of my hard work and just maintain........
m the illest and realest entertainer there is out there....im the best at what i do and i not about to compromise my music or character to try and fit in this comedy showcase they call a music industry......


K9 tha Pedigree

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Quote from: "zoolooo1"
Id like to a cat from SA do big things on this level...........But for us to make money on this level we have to smarted up. A rapper in SA wont make as money on clothing and movies etc.....get ur money in the game and then venture out into resources. Its all about making the right connects and speaking the language that niggas in the big league understand!!! Then from there u can venture into fashion and shit with funds acquired from sweet deals made in mining! But to get there u got to be a shrewed bisnessman.......u cant make multimillions without steppin on toes......listen to my music, get schooled about how to make big chingg and learn about the rules of how to do it......The r no rules, its survival of the fittest.......I cant rest until i live my dreams, and i will!!! Atleast a net of worth R500mil......then il relax and live of my hard work and just maintain........


Yeah nigga that's a dream and a half, grind my nig
9 tha Pedigree