Jay-Z to Launch Roc Nation, is $150 Million Richer

Jay-Z is on the verge of closing a $150 million deal with concert promoter Live Nation that includes every aspect the rapper’s future touring and recordings.

As part of the partnership, Jay-Z will also launch an entertainment venture called Roc Nation. According to the NY Times, this will finance future start-up ventures by Jay-Z including his own label, music publishing, and artist consulting and managing.

Earlier this week, U2 closed in on a 12-year deal with Live Nation. Madonna sealed a $120 million deal with Live Nation back in October.

Don’t miss Jay-Z on The Late Show with David Letterman this Friday!