Irving Domingo Lorenzo Jr. (born June 26, 1970), professionally known as Irv Gotti or DJ Irv, is an American DJ, music producer, and record executive. He co-founded Murder Inc. Records in 1998, an imprint of Def Jam Recordings.
Gotti produced tracks for many of the label’s artists, including Ja Rule, Lloyd, and Ashant. He also created the BET series Tales.
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Irv Gotti Net Worth
Irv Gotti, with a net worth of $25 million, bought a new farmhouse-style home in Encino, California, for $3.636 million in 2018. Built a year earlier, the 6,600-square-foot residence sits on a quarter-acre lot and features a swimming pool, covered patio, fire pit, walk-in closet, private balcony, and five bedrooms. Gotti sold the home in May 2023 for $4.8 million to actor Grant Gustin.
Early life
Irving Domingo Lorenzo Jr., born in Hollis, New York City, grew up with his brother Chris, with whom he later co-founded Murder Inc. Records. Raised with seven other siblings, their father was a cab driver, and the family faced financial struggles.
Lorenzo Jr. briefly turned to drug dealing to make money but was quickly caught by authorities. Although he left crime behind, he continued to associate with gangsters in his neighborhood.
Career
Irv Gotti’s neighborhood in the early 90s was a hotspot for hip-hop talent. He first gained attention by releasing “The Natural” in 1995 with Mic Geronimo but gained major recognition after producing Jay-Z’s debut album, Reasonable Doubt, in 1996.
Jay-Z suggested he adopt the name “Irv Gotti,” inspired by crime boss John Gotti. Gotti also worked as a talent scout and A&R rep, leading to his role at Def Jam Records. There, he introduced DMX and convinced Jay-Z to join the label, further advancing his career.
Catalog Sale
In July 2022, Irv Gotti revealed on social media and in interviews that he had struck a deal to sell Murder Inc.’s master recordings to Iconoclast for up to $300 million. Out of this amount, $100 million was allocated for acquiring the masters, with Gotti holding a 50% stake and Universal Music Group owning the other half.
It’s unclear if Gotti would receive the entire $50 million or share it with his brother Chris. The deal also included a $200 million commitment from Iconoclast for Gotti’s film and TV projects.
Who is Irv ex wife?
Irv Gotti’s ex-wife is Deb Lorenzo. They share three children: daughter Angie and sons JJ and Sonny.
Conclusion
Irv Gotti’s story is one of ambition, determination, and an unyielding passion for music. From producing chart-topping tracks to helming a successful record label, his contributions to hip-hop are undeniable. As he continues to innovate and expand his horizons, the tale of Irv Gotti remains an inspiration for many.
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FAQs about Irv Gotti’s Net Worth
- How did Irv Gotti amass his wealth?
Primarily through his music productions, record label, and ventures into film and TV. - What is the most significant deal Irv Gotti has struck recently?
Selling his 50% ownership stake of his masters for $300 million to Iconoclast. - Who are some notable artists Irv Gotti has collaborated with?
Ashanti, Ja Rule, Jennifer Lopez, Jay-Z, and DMX, among others. - Is Irv Gotti still involved in music?
Yes, while he has diversified his portfolio, Gotti remains active in the music scene. - What’s next for Irv Gotti?
While specifics remain under wraps, with his rich history, it’s evident that Irv Gotti will continue to be a force to be reckoned with in the entertainment industry.
