On June 28, music executive and veteran producer, Irv Gotti sold his stake in Murder Inc. in a $300 million deal.
Irving Lorenzo, known as Irv Gotti, founded Murder Inc in 1999 alongside his brother, Chris.
Murda Inc. launched some of the biggest names in the music industry, including Ja Rule, Ashanti, and Jennifer Lopez, to name a few.
Olive Chastan’s LA-based company, Iconoclast, acquired music rights in February with the publishing and NIL rights of rock legend Robbie Robertson. In addition, they made the deal to purchase the master recordings of Murder Inc.
Irv signed the deal, which saw him sell “a 50% ownership stake of his masters, with additional funding for various film and television projects.”
The Murda Inc. hitmaker shared the momentous occasion with the world in a video posted on his Instagram. He also shared pictures of smiling beside his family members.
Through tears, Irv spoke during the signing, saying, “This is a big day for me. I’m signing a deal that’s basically going to change the lives of my family, my sons, my daughters.”
Irv captioned the collaged post, “I F**KING DID IT!! Signed my deal; Can’t lie. I got a lil emotional. Thinking about Poppi. And also thinking about how me and my family grew up. No money. To this. Also thinking about my beautiful kids. I looked At them, and I said YOU GUYS ARE GOOD. LOL. Just feeling very Surreal. And very Thankful to GOD. GOD has been holding my hand, walking me to a lot of gold. I know Poppi and Vee is up there like, BLESS MY BOY!! All my people. @visionaryideas is about to deliver some great content. I sold my Past. To ignite my FUTURE. Watch your boy go. @olivierchastalet’s’s@olivierchastalet’s’s@olivierchastalet’s’s@olivierchastalet’s’s goooooooooooo!!! ALL MADE POSSIBLE BY. @thisisiconoclas.”
View this post on Instagram
Related Story: Irv Gotti Had Words For Ashanti Over Re-Recording Her Albums To Own Her Masters
In an exclusive World Star Hip Hop interview, Irv spoke more about the hundred-million-dollar deal and his upcoming BET documentary. The five-part Muder Inc docu-series is set to premiere on August 9 at 9 pm.
Check out the full interview below: