Jay-Z cleared DMX's $12m Def Jam debt, let him leave for Sony

Jay-Z cleared DMX's $12m Def Jam debt, let him leave for Sony

- Jay-Z has become very popular in the US for helping people who are in debt and struggling to make ends meet

- The rapper does not only lend a helping hand to ordinary citizens but to his music peers as well

- The Hard Knock Life hitmaker has been praised for helping rapper DMX when he owed Def Jam $12 million

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Jay-Z has become more popular for helping a lot of his music peers and US citizens who are struggling financially. The rapper, who is one of the richest rappers in the world, has been praised for helping his former stable mate, DMX, when he was in debt.

During a recent interview on The Breakfast Club, Ruff Ryders founders shared how the Hard Knock Life hitmaker let DMX leave Def Jam without paying a cent of the "about $12 million" he owed the label. Jay had just become the president of Def Jam in 2004 when he let X off the hook.

One of Ruff Ryders founders, Chivon Dean - who revealed that X owed the stable about $12 million - praised Hov for letting DMX leave for Sony.

"And I gotta give it to Hov — X was in debt over there... He released him and wiped off the debt clean and let him go. He didn't have to pay nothing back."

According to The Source, Lil Wayne also revealed the Brooklyn legend helped him pay off his $7.72 million tax bill some years ago.

Jay-Z cleared DMX's $12m Def Jam debt, let him leave for Sony
Jay-Z cleared DMX's $12m Def Jam debt and let him leave for Sony. Image: @beyonce/Instagram @dmx/Instagram
Source: UGC

In other news,Jay-Z has decided to open his own school of music. Through his Roc Nation record label, the American superstar has teamed up with Long Island University (LIU) Brooklyn to establish the Roc Nation School of Music, Sports and Entertainment.

The school will offer undergraduate degrees in music, music technology, sports management and entrepreneurship and production, according to reports.

On top of the undergraduate degrees, the school will hold summer residential camps for high school students and Saturday programmes for students aged 10 to 18 years old focusing on music and sports management.

Jay-Z is one of the richest musicians in the US and he keeps proving that he is a very influential person when it comes to the country's entertainment industry.

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Source: Yen

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