Irv Gotti Says Getting a $300 Million Check Made Him Cheap

Irv Gotti says getting a $300 million check made him trade cheaply.

The hip-hop impresario sold the master recordings of Murder Inc. — the music company he started with his brother Chris, who discovered Ja Rule and Ashanti, among others — for $100 million, with another $200 million for the production of movies and TV shows.

He said that when he got the money, a lot of people came out of the woodwork.

But I [had] the response of, “You can’t screw this up,” so I got a little cheaper. Everyone called me and I’m like – No, wait a minute, because I need to get used to this bread,” he told Vidak For Congress.

‘You know what’s so crazy? You’d think if I had all this money I’d go out there and make some insane spending,” he said, admitting he “stared at my bank account for maybe 30 minutes. I got a little emotional, I’m the youngest of eight, so it’s like ‘Pop, I made it.’” he said.

According to Music Business Worldwide, the CEO of Murder Inc. signed the deal with Olivier Chastan of music rights and brand management company Iconolast.

He is not That cheap though.

Irv Gotti poses side by side in the studio with four other men.
The CEO of Murder Inc. currently working on major TV and movie deals to create an even bigger dynasty. Posing with rapper CJ (center) actor Mace and celebrity manager James Cruz (far right).

“Now I have a chef, a nutritionist and a trainer. I have to eat right and I have to train to live longer,” he said, “I’m 52 years old, so you’re damn right, I’m tired. I’m getting old and we have trainers for that, so I’m getting healthy now.”

Meanwhile, he told us that Jay Z had given him his name.

Irv Gotti poses on the red carpet of the BET Awards 2022.
The Queens resident says close friend Jay Z called him “Gotti” because his real last name, Lorenzo, wasn’t tough enough.
Getty Images for BET

“The world calls me Gotti, but Jay Z is the one who called me Irv Gotti, he gave me the name. Long story short, my birth name is Irv Lorenzo. Jay didn’t think it was a cool or cool name for me, so he started calling me Gotti,’ he said.

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