Can someone say cha-chinggg! Jay Z is the latest musician to sign with music promoter Live Nation.
Live Nation will be paying him A LOT of money. To be exact we're talking $150 million dollars.
His $150 million dollar contract will be over a 10-year period where he will get $25 million up front and $10 million for each album. Besides that, he will get $25 million for concert tours and $50 million for his other investments.
"I've turned into the Rolling Stones of hip-hop," Jay-Z told The New York Times. Indeed he is!
U-2 also signed a deal with Live Nation along with Madonna who signed lucrative deal with the concert promoter's last year.