Not true. Jay was going to take the position whether they gave up their portion or not. It was Roc-A-Fella records he would be giving them instead.
Jay got offered that position because during his career, he never cashed any checks from Def Jam, as he felt the money he made ghostwriting, touring, and being 1/3 CEO of the Roc was enough to live off. When he retired years later, and came to Def Jam to finally cash in on this large sum, it would financially cripple the company, so they offered him to be CEO and President of Def Jam, full ownership of Roc-A-Fella Records, while also receiving the masters to all his other albums at the end of his tenure.
How you gonna say not true when Jay-Z said it himself... I remember the quote well
He told them he would walk away from that position and NOT take it, just give him RD... I believe it was........... Oh we kept the file
www.xxlmag.com
Okay, so I guess the first question a lot of people are wondering about is: Why the split with Dame and Biggs?
I knew that was going to be your first question. Like, I'm not in the business to talk about guys I did business with—I want you to print all this—been real tight with, for over 10 years. But since there's so much out there, so much has been said, I will say this one thing: I'ma just ask the people in the world to put themselves in my shoes. However the situation happened, whether we outgrew the situation or what have you, it was time for me to seek a new deal in the situation. While I was doing that, I was gonna leave Roc-A-Fella Records, and if anybody can imagine building something from nothing, and being the main driving force for that, and then having to leave all your legacy and everything behind, I know that'd be a tough situation for anyone. While I was seeking out another deal, whether it was with the S. Carter Records or what have you, there was a deal on the table to be the president of Def Jam, continue running Roc-A-Fella, CEO-president of Roc-A-Fella also, and get all my masters back. But since I was the one that wanted to leave, I was like, let me try to figure out some way where everyone can be happy. So I said, let me have
Reasonable Doubt. It's not a money thing.
Reasonable Doubt, if you look at it, it sells, whatever it sells in catalog. Maybe a hundred thousand a year.
It's very little money, but it meant everything to me because it was my baby. It was my first one. And it was also more of a principle thing: Just give me something, something to walk. Something to hold on to. I don't wanna walk away from Roc-A-Fella RecordsÐif you can imagine thatÐwith nothing... So I was like, let me get
Reasonable Doubt and I'll give up [the rest of] my masters. I'll give up Roc-A-Fella, I'll give up president and CEO of Def Jam Records—everything. Just give me my baby to hold on to so 10 years down the line, I can look back and I got something—I'm not empty-handed. And I was the one being offered everything. I thought it was more than fair... And when that was turned down, I had to make a choice. I'll leave that for the people to say what choice they would've made. That's about it. I don't really wanna talk about Dame or Biggs. I don't have nothing negative to say about them.
But like I said... One of them actually agreed.. I think it was Biggs... And Dame was like "fukk that, we all put in work to make that album happen." He convinced him not to sell and the rest is history.. I wonder what would have happened if Dame would have just gave that up. I wonder if that's why Biggs was forgiven but Dame never will be