Welcome To aBlackWeb

Register

JAY-Z CLEARED $12 MILLION DEF JAM DEBT FOR RUFF RYDERS

5

5 Grand

Old School Godfather
The Ruff Ryders has a star-studded lineup, but DMX was the heartbeat of the collective. There was a point in time when JAY-Z and X were beefing, and it hit a peak when Hov became President of Def Jam in 2004.

“What had happened was Jay-Z called X and told him ‘The inmates have took over the prison.’ And when your man Jay-Z got in position X felt like he didn’t honor him and hold weight like he was supposed to,” Ruff Ryders’ founder, Darrin “Dee” Dean said.

The Yonkers rapper eventually left the label and released his sixth studio album, Year of the Dog…Again, on Columbia Records in 2006. But things weren’t all bad between the New York emcees.

“X was in debt over there. He probably owed about $12 million,” Dean revealed. He met with Jigga when DMX left Def Jam for Sony and Hov “released him and wiped off the debt clean.”

JAY-Z has been known to silently help with people’s financial binds. Lil Wayne revealed the Brooklyn legend helped him pay off his $7.72 million tax bill. “There’s people like JAY-Z. He helped me when I was really, really, really down. Really, really, really down,” Weezy said during a Chicago show. “Jay don’t want me to tell nobody. That man helped me with my taxes. He’s a real friend, y’all.”


How many of us have real friends?









thesource.com

JAY-Z Cleared $12 Million Def Jam Debt for Ruff Ryders - The Source

The Ruff Ryders has a star-studded lineup, but DMX was the heartbeat of the collective. There was a point in time when JAY-Z and X were beefing, and it hit a peak when Hov became President of Def Jam in 2004. "What had happened was Jay-Z called X and told him 'The inmates have took
thesource.com thesource.com
 
1597326748245.jpeg

JAY-Z is known to be about his business, but he is also known to look out for people when they are in a financial bind.

During a recent interview with “The Breakfast Club,” Ruff Ryders founders Waah, Dee and Chivon Dean shared the story about how JAY let DMX leave Def Jam without having to pay a penny back to the company.

“What had happened was JAY-Z called DMXand told him, ‘The inmates have took over the prison.’” Dean said. “And when your man JAY-Z got in position, X felt that he didn’t honor him in a proper way and hold weight like he was supposed to.” They then added that their egos got the best of them once JAY became president of Def Jam in 2004, which led to their beef.


“The good part about Def Jam — and I gotta give it to Hov — X was in debt over there. He probably owed about $12 million,” Dean revealed. When DMX left Def Jam for Sony, he said that Hov “released him and wiped off the debt clean and let him go. He didn't have to pay nothing back.”

Back in 2018, Lil Wayne opened up about a time when JAY helped him pay off his $7.72 million tax debt. The “A Milli” rapper reportedly owed $3.35 million in taxes for 2008 and $2.25 million for 2009. He also owed other unpaid taxes and late fees.

JAY-Z helped him pay off the bill in full. “There’s people like JAY-Z. He helped me when I was really, really, really down. Really, really, really down,” Wayne told the crowd during a show in Chicago. “JAY don’t want me to tell nobody. That man helped me with my taxes. He’s a real friend, y’all. Shout out my n*gga JAY!”

 
This is DMX we're talking about. Of course he would run up the tab and not pay that shit back lol. Hov just made official what was gonna happen anyway and saved Def Jam some lawyer fees.
 
Dwayne said:
How did he come to owe that much
Click to expand...


Chi-town B said:
I will never understand how niggas het millions in debt to have another nigga come rescue him
Click to expand...


Gunner83 said:
How did he owe that much after the success he had with album sales and touring?
Click to expand...



DMX strikes me as the type of person that lets his manager handle the paperwork. As a result he has no idea how much his videos cost and how much the models and extras are getting paid. He doesn't know how much the studio time costs, doesn't know how much he's paying producers for beats. He probably doesn't even know how much his manager & accountant get paid.

All he does is go in the studio and spit, and then go on stage and tear the house down.

As long as somebody hands him a few stacks when he walks off stage he's satisfied.
 
5 Grand said:
DMX strikes me as the type of person that lets his manager handle the paperwork. As a result he has no idea how much his videos cost and how much the models and extras are getting paid. He doesn't know how much the studio time costs, doesn't know how much he's paying producers for beats. He probably doesn't even know how much his manager & accountant get paid.

All he does is go in the studio and spit, and then go on stage and tear the house down.

As long as somebody hands him a few stacks when he walks off stage he's satisfied.
Click to expand...
Surely they made millions back on those videos and studio sessions? Just shows how ruthless and shady these companies are.
 
Gunner83 said:
Surely they made millions back on those videos and studio sessions? Just shows how ruthless and shady these companies are.
Click to expand...
Nah videos have always essentially been good promo. You're not making money off them.

I remember reading back in the early 2000s that DMX was making something like 15 cents from every album sale. I couldnt fucking believe it. This man, with Jay Z, was probably legit the biggest star in rap and he was getting fucked over on his money. That always stuck with me. If he could get done like that then what hope for the other artists.

In fact that's probably how he got 12 mil in debt. The label probably advanced him shitloads for videos and studio sessions, but despite selling multi millions he was hardly making anything from album sales smh
 
dasmooth1 said:
Nah videos have always essentially been good promo. You're not making money off them.

I remember reading back in the early 2000s that DMX was making something like 15 cents from every album sale. I couldnt fucking believe it. This man, with Jay Z, was probably legit the biggest star in rap and he was getting fucked over on his money. That always stuck with me. If he could get done like that then what hope for the other artists.

In fact that's probably how he got 12 mil in debt. The label probably advanced him shitloads for videos and studio sessions, but despite selling multi millions he was hardly making anything from album sales smh
Click to expand...


Traditionally artists don't make any money from record sales (unless you start your own label and let a bigger label buy you out when you blow up). The money is in live performances.

The record label has to promote the record in every city. That means maintaining a good relationship with radio stations in New York, Oakland, Chicago, St Louis, Los Angeles, Phoenix, Albuquerque, Miami, Boston, Philadelphia, Charlotte, Cleveland, Detroit (you see where this is going?).

If you really want the radio station to play your record every 45 minutes you have to pay them, and send them free goodies like gift certificates to Dominoes Pizza and Foot Locker. You have to send them tickets to basketball games and/or football games. You have to schmooze to get them to play your record.

So the record label spent all that money to get them to play your record, you make the money back when you go to that city and do a show. At least that's how it's supposed to work.

There's a lot of artists that are so ignorant (and we know who they are) that when they get paid they spend the money on champagne and stay in perpetual debt. So they tour, and tour, and tour for the rest of their career and that's how they make a living; Touring.
 
You must log in or register to reply here.
Back
Top