Irv Gotti has shared an emotional video of him signing a deal he says is worth $300 million with rights and brand management company Iconoclast.
“I FUCKING DID IT!! Signed my deal. Can’t lie. I got a lil emotional,” wrote the Murder Inc. co-founder. “Thinking about Poppi. And also thinking about how me and my family grew up. No money. To this. Also thinking about my beautiful kids. I looked At them and I said YOU GUYS ARE GOOD. LOL. Just feeling very Surreal. And very Thankful to GOD. GOD has been holding my hand walking me too a lot of gold. I know Poppi and Vee is up there like BLESS MY BOY!! All my people.”
In the video, he admitted the signing of the deal was “a big day for me” and that the contract could change the lives of his family. He got choked up, and added, “I can’t help but think about them.”
Iconoclast was founded by French-born music industry figure Oliver Chastan, and the firm made its first big investment in February with the purchase of the catalog of the Band’s Robbie Robertson, per Variety.
In a recent interview with WorldStarHipHop, as seen below at the 6:00 point, he revealed the deal is worth $300 million. “I’ma tell you what it is: $100 million of the deal is me selling my masters,” he explained. “What my billionaire n***a was saying, he’s absolutely right. 20 years later, my masters—and I only own half, I own 50-50 with Universal Music Group—half my masters is worth $100 million. That’s fucking insane!”
As for the other $200 million, he said it’s “line of credit” for him to produce, create, and own his own TV projects in the future. He said he has a few ideas in mind, including a competitive series called Double Threat, and he wants to do a movie version of his BET show Tales Presents: We Made It in America.
