<p id=”par-1_11″><a href=”https://www.cheatsheet.com/tag/hip-hop/?swcfpc=1″>Music producer and executive</a> Irv Gotti has died at age 54. </p>
<p id=”par-2_38″>Gotti, whose real name was Irving Domingo Lorenzo Jr., was the <a href=”https://www.cheatsheet.com/entertainment/fat-joe-ja-rule-bicker-over-whether-rule-defends-ashanti-against-ive-gotti.html/”>founder of Murder Inc. Records</a> and had worked with artists such as Ashanti, DMX, and Ja Rule. His family confirmed his death in a statement on <a href=”https://www.instagram.com/p/DFvHIuGxYHY/?hl=en” target=”_blank” rel=”noreferrer noopener”>Instagram</a>. </p>
<p id=”par-3_98″>“It is with heavy hearts that we announce the passing of our beloved father, Irving ‘Irv Gotti’ Lorenzo, on February 5, 2025. Surrounded by family and friends, he departed this world, leaving behind a legacy that will forever resonate in the hearts of those who knew him and the countless lives he touched,” they wrote. “Our dad was an incredible man, a true visionary who transformed the hip-hop industry and changed the game for artists and fans alike. His passion for music and dedication to his craft inspired many, and his contributions will continue to influence future generations.”</p>
<p id=”par-4_28″>Tributes to Gotti swiftly poured in on social media. Ja Rule shared a black and white photo of Gotti along with the caption, “Love you…” on his <a href=”https://www.instagram.com/p/DFvHt9PuGHQ/?hl=en&img_index=1″ target=”_blank” rel=”noreferrer noopener”>Instagram</a>. </p>
<p id=”par-5_63″>Def Jam Recordings – where Gotti began <a href=”https://www.cheatsheet.com/entertainment/dmx-slick-way-irv-gotti-convinced-def-jam-sign-rapper-after-they-initially-passed-on-him.html/”>his career in A&R</a> before founding Murder Inc. in 1998 – said in a <a href=”https://www.instagram.com/p/DFt3O1ItovG/?hl=en”>statement</a> that his contributions “helped pave the way for the next generation of artists and producers,” adding that Gotti’s “creative genius and unwavering dedication to the culture birthed countless hits, defining an era of music that continues to resonate with fans worldwide.”</p>
<h2 class=”wp-block-heading” id=”h-irv-gotti-s-net-worth-estimated-at-25-million”>Irv Gotti’s net worth estimated at $25 million</h2>
<figure class=”wp-block-image size-full” id=”emb-1″><img decoding=”async” src=”https://www.cheatsheet.com/wp-content/uploads/2025/02/Irv-Gotti-BET-Awards.webp?strip=all&quality=80″ alt=”Irv Gotti speaking into a microphone while onstage at the BET Awards in 2022″ class=”wp-image-3772837″><figcaption class=”wp-element-caption”>Irv Gotti at the 2022 BET Awards | Leon Bennett/Getty Images for BET</figcaption></figure>
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Irv Gotti and Ashanti Disagree Over Who Really Owns Her Music Masters </a>
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<p id=”par-6_62″>Gotti’s career took a hit in the early 2000s when the FBI investigated Murder Inc. due to its alleged links to drug trafficker Kenneth “Supreme” McGriff. In 2005, Gotti was acquitted of all charges. More recently, he expanded his work to include TV, producing the BET show <em>Tales, </em>which aired in 2017. <a href=”https://www.celebritynetworth.com/richest-businessmen/ceos/irv-gotti-net-worth/”>Celebrity Net Worth</a> estimated his net worth at $25 million. </p>
<p id=”par-7_32″>In 2022, Gotti sold a 50% stake in his label’s masters to Iconoclast for $300 million, noted <a href=”https://www.complex.com/music/a/cmplxjoshua-espinoza/irv-gotti-on-selling-masters-says-cash-money-greatest-label” target=”_blank” rel=”noreferrer noopener”>Complex</a>. He later defended his decision <a href=”https://www.cheatsheet.com/entertainment/ashanti-irv-gotti-masters-argument.html/”>not to give artists control</a> over their own masters. </p>
<p id=”par-8_58″>“When people talk about the masters…and they’re like, ‘Oh you should give your artists their masters.’ No, because that’s how I make my money,” Gotti told Drink Champs (via <a href=”https://afrotech.com/irv-gotti-artists-masters” target=”_blank” rel=”noreferrer noopener”>AfroTech</a>). “Like Ja, Ashanti, millions of dollars they make every year [from their shows]. I don’t get a dime of that. I don’t get one f***ing penny of that.”</p>
<p id=”par-9_26″>“The only thing that I have that I can sell to get me a check is those masters,”he added. “And you wanna take that from me?”</p>
<p id=”par-10_16″><em>For more on the entertainment world and exclusive interviews, subscribe to </em><a href=”https://www.youtube.com/channel/UCWmTM34h0-P7FcCwuA6h6sw/videos” target=”_blank” rel=”noreferrer noopener”><em>Showbiz Cheat Sheet’s YouTube channel</em></a><em>.</em></p>