Hip Hop Exec Irv Gotti, Dead At 54, Leaves Behind A Real Estate Legacy With His Upscale Californian Property Portfolio

Irv Gotti, the music executive best known for founding Murder Inc. and signing artists such as Ja Rule and Ashanti, died last week, leaving three children, a musical legacy, and an expansive Californian property portfolio.

Gotti worked with a who’s who of R&B and hip-hop artists in the late 1990s and early 2000s, including the aforementioned rappers and singers on his label, Jay-Z, Jennifer Lopez, and DMX.

According to The Hollywood Reporter, Gotti died from a stroke after suffering from diabetes for many years. His family announced his passing with a statement on Instagram: “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.”

Don't Miss:

• Many don’t know there are tax benefits when buying a unit as an investment — Here’s how to invest in real estate by mirroring BlackRock's big move
• Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — you can become an investor for $0.80 per share today.

$300 Million Pay Day

Gotti pacted with the legendary hip-hop label Def Jam, where he received his own imprint after bringing rapper DMX to the company. Amid hit records and Grammy awards, the Hollis, Queens-born mogul (born Irving Domingo Lorenzo Jr.) became a multi-millionaire. However, he attained generational wealth long after his label’s heyday and close to the end of his life, when in 2022, he sold his label’s master recordings to the music management firm Iconoclast for $300 million.

Gotti told WorldStarHipHop in an interview that the deal allowed him to net $100 million and receive $300 million in a line of credit for future film and TV projects. 

Trending: These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends

Luxury Homes In Encino

After securing the deal, Gotti bolstered his real estate portfolio by buying two homes in Encino, California. According to Realtor.com, he paid $10.2 million for a 10,325-square-foot residence with eight bedrooms and 10 bathrooms and $4.8 million for a 6,600-square-foot home with five bedrooms and five bathrooms. Previously, Gotti owned a five-bedroom, five-bathroom property in a cul-de-sac in Sherman Oaks, California which he sold for $1.85 million in 2021. He purchased the house for $1.43 million in 2016 and then listed it for rent three years later for $12,500 a month.

$100 Million Per Year Money Machine Before Fed Shut Down

At the peak of Murder Inc.’s success, Gotti told VladTV in 2019 that the label generated $100 million per year before the infamous raid by FBI and New York Police Department investigators in January 2003.

“The government stopped me from making the money,” Gotti said in the interview. “When the government came in at that time, Murder Inc. was doing like over $100 million in billing for like two years in a row.”

See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!

The raid coincided with Gotti being given a check for $65 million from Universal Music, his partner in a 50/50 deal.

“They was [sic] giving me a check for like $65 million, and that’s why the government came in,” Gotti claimed. “It was a chess move to destroy me and take all of my money.”

The label was charged with money laundering. Eventually, in 2005, Gotti was acquitted after spending close to $10 million in legal fees.

“They took my life from me for three years,” Gotti said at the time. “But it’s all good. I’m not mad. I love this country. But from Day One, they had it wrong with me and my brother. I’m no criminal.”

Read Next:

• Jeff Bezos-Backed Arrived Homes Hits A Big Sale On Charlotte Property – Investors Earning A 34.7% Return
• ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.26/share with a $1000 minimum.