Jay Z is already racking up stacks of cash from the plethora of brands associated with his name, but now the RocNation CEO will be earning even more money by the end of 2014. That’s thanks to a deal Jay made a decade ago with Def Jam Recordings. Back in 2004, Jay negotiated to gain ownership of the rights to all of his master recordings he made while he was at Def Jam to become the label’s president.
There was only one condition. Jay would have to wait ten years in order to obtain the ownership. Last year, Jay established a partnership with Warner/Chappell Music, which grants him the full publishing rights to his music and all of his signed artists. By owning both rights, Jay will receive a check every time someone purchases one of his albums, streams one of his hits online or even licenses his song for a movie as well as from any of his RocNation signees like J. Cole, Rihanna and DJ Mustard.
Could this mean Jay will be moving up in the hip hop millionaire ranking? Last year, Forbes had Jay Z and Diddy tied at the #2 spot on their Cash Kings list. While it’ll take a lot more to surpass Dr. Dre, Jay’s boosted annual income could make a difference in breaking the tie.