On the heels of the latest installment of Hip-Hop’s Cash Kings from Forbes, there are reports that rapper/mogul Jay-Z just signed a $200 million touring deal with Live Nation. Jay-Z was #2 on the Forbes list, beat out by Sean “Diddy” Combs of Bad Boy Entertainment and Revolt Media. But with an additional $200 million, that could push the Rocafella up to the top in the future.
The deal was a re-signing of his touring contract with Live Nation for a 10 year period. Jay-Z released a statement saying “Live Nation and I entered uncharted territory in 2008. Over 9 years, we have traveled the world producing historic music experiences… For the next 10 years, we will continue redefining the live event landscape.”
Michael Rapino, executive at Live Nation, added “Jay Z is one of the world’s preeminent touring artists. This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
Although Hova hasn’t put out many new records as of late, he’s been a regular touring act. And there are rumors that a new Jay-Z album is currently in the works. The rumors started after a cryptic Instagram post by Swizz Beatz ignited people’s imaginations.