Rapper turned mogul Jay-Z has been 'Big Pimpin' since he stepped up as the CEO of Def Jam Records two years ago, but he's giving up his title by the end of this year.
There were reports earlier this month that Jay-Z wanted more money and the company couldn't promise him what he felt he deserved. There were also rumors that Jay-Z was unhappy with the fact that Def Jam appointed producer/performer Jermaine Dupri as the president of their urban music division in February of this year.
Whatever the case is, Jay-Z insists that there are no hard feelings and that, "Now it's time for me to take on new challenges," he said in a statement Monday. "I am pleased to have had the opportunity to build upon the Def Jam legacy."
Don't feel too bad for Jay-Z though, he's planning on following Trump's footsteps and building hotels in Manhattan. Big Pimpin for sure!
