Irv Gotti is frugal with his money and tells PageSix that when he received a $300 Million check when he sold his master recordings belonging to Murder Inc.
The music mogul received $100 Million for the master recordings and then an additional $200 Million for him to produce television shows and movies.
“I [had] the reaction of, ‘Yo you can’t f–k this up,’ so I kind of got cheaper. Everyone was calling me and I’m like — No, just wait a second, cause I gotta get used to having this bread,” he told the publication.
“You know what’s so crazy? You would think when I got all this money, I would go out and go on a crazy spending spree. I“stared at my bank account for maybe like 30 minutes. I got a little emotional, I am the youngest of eight so its like ‘Pop, I made it.'”
He also shared how Jay-Z gave him the name Irv Gotti.
“The world calls me Gotti right but Jay Z is the one that named me Irv Gotti…he gave me the name,” he shared.
“Long story short, my birth name is Irv Lorenzo. Jay didn’t think it was a tough enough or cool enough name for me so he started calling me Gotti.”
You can see Gotti share more about his life in the five-part documentary series The Murder Inc. Story, which premiered on August 9 on BET. The docuseries chronicles the rise of the famed record label and features appearances from Ja Rule, Fat Joe, Charli Baltimore, and more.