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Study Hall: HOW IRV GOTTI SOLD HIS MASTERS FOR $300 MILLION · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
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  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
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  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
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  Speaker 1: crossings are at the lowest levels ever recorded, and over
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  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
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  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
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  Speaker 1: never return. But if you register using our CBP home
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  Speaker 1: app and leave now, you could be allowed to return legally.
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  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: All right, guys, welcome back, e y l we on
• 1:03
  Speaker 3: the West Coast. This is gonna be something that's gonna
• 1:06
  Speaker 3: be a very exciting, legendary situation, something I actually been
• 1:09
  Speaker 3: looking forward to for a while. So first I got
• 1:11
  Speaker 3: a shout out his brother, but my brother as well,
• 1:14
  Speaker 3: Christ Legend. I met Chris. Everybody knows the story and
• 1:19
  Speaker 3: ever since we met, we always tapped in and uh,
• 1:22
  Speaker 3: Chris one of the best storytellers of all time.
• 1:25
  Speaker 4: Crazy.
• 1:26
  Speaker 3: I told Angie that, and she was like, Earv is
• 1:28
  Speaker 3: a better storyteller than.
• 1:29
  Speaker 5: Christ stories because he's way like his stories immaculate.
• 1:37
  Speaker 3: Yeah, so Irv Gotti really needs no introduction but pioneer
• 1:43
  Speaker 3: in the space. But somebody who's been able to reinvent himself.
• 1:47
  Speaker 3: I don't think it gets enough credit for that. So
• 1:49
  Speaker 3: obviously one of the biggest musical music moguls Murder Inc.
• 1:54
  Speaker 3: And then actually transitioned to the media side with Tales
• 2:00
  Speaker 3: on the Game TV and recently changed the game again
• 2:03
  Speaker 3: when he sold his Masters for one hundred million. So
• 2:07
  Speaker 3: there's actually a lot to talk about because that Masters
• 2:10
  Speaker 3: conversation is really really exciting prevalent. A lot of people
• 2:14
  Speaker 3: have different takes on it. I think Future just sold
• 2:16
  Speaker 3: this Master.
• 2:18
  Speaker 5: Litl Wayne did it, Future Legend Legend The Future got
• 2:22
  Speaker 5: like sixty seven justin Justin Timberlake did Timberlate.
• 2:26
  Speaker 6: Yeah, we keep seeing it, but it's like what does
• 2:28
  Speaker 6: it really mean?
• 2:29
  Speaker 4: Like all the details and all that, so what should means?
• 2:32
  Speaker 5: Yeah, I think like when people saw it, like they
• 2:34
  Speaker 5: saw Timberlake do it, and obviously they saw Wayne we
• 2:38
  Speaker 5: got a bag.
• 2:39
  Speaker 6: Well that we know that, people are just like wait, huh,
• 2:41
  Speaker 6: why they're doing it? So it's just because the bad Because.
• 2:46
  Speaker 3: We're gonna have a through conversation. But first and Foremo,
• 2:48
  Speaker 3: thank you for joining us. Appreciate it.
• 2:51
  Speaker 4: Happy to be here, you guys. Jesus and Moses.
• 2:54
  Speaker 3: That's what they say.
• 2:55
  Speaker 4: We're on the street. Jesus and Moses.
• 2:59
  Speaker 3: On the street. So let's lie, let's start. I want
• 3:02
  Speaker 3: to start with this. We might fust start with this
• 3:04
  Speaker 3: one hundred million dollars for selling your masters, right, yeah,
• 3:07
  Speaker 3: so walk us through that process because you told it
• 3:10
  Speaker 3: to us when we first met. As an interesting story
• 3:13
  Speaker 3: how that even came about because I wasn't on your radar, No,
• 3:16
  Speaker 3: so talk about how that was even on your radar, Well, it.
• 3:18
  Speaker 4: Was on my radar.
• 3:19
  Speaker 7: Was making the film and I needed five million dollars
• 3:22
  Speaker 7: to make a film. So I wanted to raise the
• 3:27
  Speaker 7: money because the people I was asking that I thought
• 3:30
  Speaker 7: would just loan me to five million, was asking for
• 3:33
  Speaker 7: fifty percent of my.
• 3:35
  Speaker 6: Real friends for five million, good friends.
• 3:38
  Speaker 7: I'm telling them this is going to be a multi
• 3:39
  Speaker 7: billion dollar company. They give me five million, they want
• 3:42
  Speaker 7: fifty percent. I was like, I'm not getting jerked right.
• 3:47
  Speaker 7: So people told me, they said, oh, if you got
• 3:49
  Speaker 7: the money, just use your masters as leverage. So that's
• 3:55
  Speaker 7: what I did. I did a deal with this company
• 3:57
  Speaker 7: called Sound Royalties, and they get me five million dollars.
• 4:02
  Speaker 7: I had to give them a big interest rate. I
• 4:06
  Speaker 7: had to pay him back like six million.
• 4:09
  Speaker 3: Six million for five million.
• 4:10
  Speaker 4: Yeah, it's like a loan shark. Yeah it was. It
• 4:13
  Speaker 4: was shylocked. It was shylocked. It was shylock raised definitely.
• 4:19
  Speaker 7: Uh, But I didn't care because I had a situation
• 4:23
  Speaker 7: set up with Paramount and Bob Backage that I felt
• 4:26
  Speaker 7: very strong that if I made the movie for five
• 4:29
  Speaker 7: I would get back seven to ten. So if you
• 4:34
  Speaker 7: know me, once I once I want to do something,
• 4:36
  Speaker 7: I'm doing it right. There's no looking back. I got
• 4:39
  Speaker 7: a tunnel vision. I don't give a fuck I'm going
• 4:44
  Speaker 7: So basically, when I did that, the word got out
• 4:48
  Speaker 7: that I'm doing shit with my masters. Zach Harrwitz, great friend,
• 4:53
  Speaker 7: of mine. He was the COO of the Universal Music
• 4:57
  Speaker 7: Group and he called me and he's like, you want
• 5:01
  Speaker 7: to sell your masters? I said, well, I borrowed money
• 5:05
  Speaker 7: against it. I ain't selling them. He said, but what
• 5:08
  Speaker 7: do you want it? I said, well, if the price
• 5:11
  Speaker 7: is right, I said, I want to make TV and
• 5:15
  Speaker 7: film and I want to own it. I want to
• 5:17
  Speaker 7: have the money to pay for it to own it.
• 5:20
  Speaker 7: He said, this is this guy, Olivier Chastin. He he
• 5:24
  Speaker 7: pays the most for masters, and he plugged me with him.
• 5:29
  Speaker 7: As soon as I'm at Olivier, it was like a
• 5:32
  Speaker 7: love fest, and he gave me a like twenty seven X.
• 5:38
  Speaker 7: He gave me a big multiple for my masters. So
• 5:43
  Speaker 7: I took the deal and took the money right.
• 5:49
  Speaker 5: This episode is brought to you by P and C Bank.
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• 7:39
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 7:43
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 7:47
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 7:51
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 7:55
  Speaker 1: some of the heinous migrant criminals caught because of President
• 7:59
  Speaker 1: Donald Trump's leadership. I'm Christy Noman, the United States Secretary
• 8:03
  Speaker 1: of Homeland Security. Under President Trump, attempted illegal border crossings
• 8:08
  Speaker 1: are at the lowest levels ever recorded, and over one
• 8:11
  Speaker 1: hundred thousand illegal aliens have been arrested. If you are
• 8:14
  Speaker 1: here illegally, your next you will be fine nearly one
• 8:18
  Speaker 1: thousand dollars a day, imprisoned and deported. You will never return.
• 8:23
  Speaker 1: But if you register using our CBP home app and
• 8:26
  Speaker 1: leave now, you could be allowed to return legally. Do
• 8:30
  Speaker 1: what's right. Leave now. Under President Trump, America's laws, border
• 8:35
  Speaker 1: and families will be protected.
• 8:37
  Speaker 2: Sponsored by the United States Department of Homeland security.
• 8:39
  Speaker 7: Then where he got his money from or the company
• 8:44
  Speaker 7: that he's partnered with is this company called Pimco, Pimco.
• 8:49
  Speaker 4: Giant Financial Giant.
• 8:53
  Speaker 7: So he put me on to Ben Frishman. So we're
• 8:58
  Speaker 7: sitting there at a meet and you know, they buying
• 9:02
  Speaker 7: my masses. So Ben was like, so, why why are
• 9:04
  Speaker 7: you selling your masses? If you might if, he said,
• 9:07
  Speaker 7: if I could ask you, And I said, well, I'm
• 9:10
  Speaker 7: selling my past to ignite my future. I said, I
• 9:14
  Speaker 7: want to pay for my own TV series, pay for
• 9:18
  Speaker 7: my own films, so I could own it one hundred
• 9:21
  Speaker 7: percent and build that catalog up, just how I built
• 9:25
  Speaker 7: my music catalog. He said, well, I'll give you two
• 9:32
  Speaker 7: hundred million, to which I'm like, you know, coming from
• 9:42
  Speaker 7: where I come from, the nigga, say you're giving you
• 9:45
  Speaker 7: two hundred million. So my immediately response was like, it's
• 9:50
  Speaker 7: what you want, like fifty percent of my company?
• 9:53
  Speaker 4: Oh, eighty percent. He's like, nah, I don't want nothing.
• 10:00
  Speaker 7: I just want whatever money that you borrow from me
• 10:03
  Speaker 7: pay me back eight percent.
• 10:06
  Speaker 4: Said that's it, that's it. I couldn't believe it.
• 10:11
  Speaker 7: Man was all from me a two hundred million line
• 10:15
  Speaker 7: of credit and didn't want a percentage in my company.
• 10:20
  Speaker 7: So he said, you know, you don't have to spend
• 10:23
  Speaker 7: that hundred for your mask. He's like, we'll give you
• 10:26
  Speaker 7: the money to make your product. I said, cool. So
• 10:34
  Speaker 7: you know, it's really a dope story because it's a
• 10:41
  Speaker 7: story of.
• 10:43
  Speaker 4: I really it fell in my lap.
• 10:46
  Speaker 5: The story, I mean, the way you tell it, and
• 10:49
  Speaker 5: like I said, when we first met you actually you know,
• 10:50
  Speaker 5: gave us a breath to it. But if it feels
• 10:53
  Speaker 5: like this is how's this even happen? And how unbelievable
• 10:55
  Speaker 5: is this? Can you talk about the contrast into the
• 10:58
  Speaker 5: industry that you came from, where deals weren't structured like that?
• 11:01
  Speaker 4: Oh no, just trying to like siga entity where I
• 11:04
  Speaker 4: came from.
• 11:04
  Speaker 7: If a nigga offered me two hundred million, he probably
• 11:06
  Speaker 7: wanted ninety nine percent of my company.
• 11:09
  Speaker 4: You know what I'm saying.
• 11:10
  Speaker 7: It's like, so the whole process of what happened, I
• 11:14
  Speaker 7: got to give it up to God, and God just
• 11:17
  Speaker 7: blessed me because I can't explain it.
• 11:20
  Speaker 4: So let's let's break this down a little. Because you
• 11:22
  Speaker 4: said a twenty seven x multiple.
• 11:23
  Speaker 3: So this is important people to understand because a lot
• 11:26
  Speaker 3: of times people aren't fully educated, so they're like, yo,
• 11:29
  Speaker 3: they're looking at music, like, don't sell your music because
• 11:33
  Speaker 3: you're not going to have a legacy for your children.
• 11:35
  Speaker 3: But when we went in London, DJ he explained it
• 11:37
  Speaker 3: to us. I never really thought about it like this.
• 11:39
  Speaker 3: He was like, it's like a startup company. Like when
• 11:41
  Speaker 3: Elon Musk sells PayPal for two hundred million. Nobody criticized
• 11:46
  Speaker 3: him for doing that because he used that money to
• 11:50
  Speaker 3: fund SpaceX and Tesla and now he's the richest person
• 11:53
  Speaker 3: in the world. He's about to be a trillionaire. So
• 11:55
  Speaker 3: he was like, you could look at up music catalog
• 11:58
  Speaker 3: just like that. It's like you're selling a company for
• 12:01
  Speaker 3: it's a liquidation event. You get a lump sum of
• 12:03
  Speaker 3: money as opposed to getting residual amount of money and
• 12:07
  Speaker 3: not that long.
• 12:09
  Speaker 4: Do you take the hundreds or do you take four
• 12:11
  Speaker 4: million a year for thirty years.
• 12:13
  Speaker 3: It's like a lot of exactly, yeah, which money you take?
• 12:16
  Speaker 6: The kids?
• 12:17
  Speaker 4: And there is the thing.
• 12:18
  Speaker 7: If I'm retiring, maybe the four million is good, but
• 12:24
  Speaker 7: I'm not retiring my mind. I got other things that
• 12:27
  Speaker 7: I'm trying to do where I could use that hundred
• 12:30
  Speaker 7: But look, doing that deal for the hundred, it bounced
• 12:32
  Speaker 7: into the two hundred, and then.
• 12:35
  Speaker 3: So the two hundred that's a lot of so the
• 12:37
  Speaker 3: same company. The hundred is upfront, they gave it to you.
• 12:39
  Speaker 3: That's money in the bank. The two hundred is a
• 12:41
  Speaker 3: lot of credit. Essentially, it's like a credit card. I
• 12:43
  Speaker 3: ain't got to use my hundred when.
• 12:45
  Speaker 4: You use the two hundred, as long as you.
• 12:47
  Speaker 7: Get agg I just when I said, I told your
• 12:49
  Speaker 7: tails Latin so Olivia is like, he's like, how much
• 12:52
  Speaker 7: is it gonna be?
• 12:53
  Speaker 4: As maybe two million? In that twenty million, he's gonna
• 12:57
  Speaker 4: give it to me.
• 13:00
  Speaker 7: I'll be part of probably the line of credit twenty million,
• 13:03
  Speaker 7: which I got to give them back eight percent. Let's
• 13:09
  Speaker 7: all die because once I make it, I'm gonna sell
• 13:13
  Speaker 7: it for more to a streamers company and then but
• 13:18
  Speaker 7: I own it now.
• 13:20
  Speaker 4: I own it.
• 13:27
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 13:31
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 13:35
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 13:39
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 13:43
  Speaker 1: some of the heinous migrant criminals caught because of President
• 13:47
  Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 13:51
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 13:55
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 13:59
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 14:02
  Speaker 1: are here illegally, your next you will be fine nearly
• 14:06
  Speaker 1: one thousand dollars a day, imprisoned and deported, you will
• 14:10
  Speaker 1: never return. But if you register using our CBP home
• 14:14
  Speaker 1: app and leave now, you could be allowed to return legally.
• 14:18
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 14:23
  Speaker 1: border and families will be protected.
• 14:25
  Speaker 2: Sponsored by the United States Department of Homeland Security,