Irv Gotti Speaks On Selling Murder Inc. For $300 Million & Upcoming Movie

Irv Gotti has left a lasting impression on Hip-Hop based on his work with JAY-Z, DMX and the multi-platinum artists from Murder Inc. Records. Now that's he's sold his ownership in the iconic rap imprint, the producer and film guru is writing the next chapter of his legacy.

In an interview Billboard published on Thursday, July 14, Irv Gotti discusses how he landed the $300 million-dollar deal for his 50 percent ownership of Murder Inc with Iconoclast. The deal not only generously reimburses him for the $5 million he raised to make his own movie, but it also includes additional funding to help sponsor his forthcoming TV and film ventures.

“I sold my past to ignite my future," Irv Gotti tells Billboard. "I’m building Visionary Ideas Entertainment into a multi-billion dollar entertainment company. Instead of going to the investment circle and maybe raising $100 million, I did it myself, and I’m betting on myself.”

$200 million will go towards funding for Visionary Ideas Entertainment and his upcoming projects like his upcoming movie Tales Presents: We Made It in America, which will be distributed through Paramount thanks to his relationship with Viacom/CBS. Gotti has worked with networks like BET in the past to release his hit TV series Tales. He's currently working with BET to release his Murder Inc. docuseries, which will discuss the history of his record label including all the drama that unfolded throughout its reign in the late 90s to early 2000s.

"Probably the biggest one is the whole Ashanti relationship thing gets discussed — and not just by me, but every artist, worker and employee talks about it, and the dynamics of it," Gotti says about the five-part docuseries. "It ain’t me, it’s all of them. I want people to see."

Irv Gotti's Murder Inc. debuts August 9 on BET. See what else he has to say about his new business ventures here.