Eve has sold the publishing rights to her entire catalog to a company which recently acquired another storied Hip Hop library.
According to Music Business Worldwide, Iconoclast issued a press release on Wednesday (August 25) announcing the deal, which a source tells the outlet netted the Ruff Ryders rapper somewhere between $25 and $50 million.
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Included in the purchase is Eve’s 1999 debut album Let There Be Eve…Ruff Ryders’ First Lady, which helped her become the third female rapper in history to reach No. 1 on the Billboard 200.
“Eve became a defining voice in hip-hop, known for her lyrical prowess, dynamic flow, and unique fusion of rap and R&B influences,” Iconoclast wrote in their announcement. The company also branded her a “trailblazer.”
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In June, Irv Gotti announced a $300 million deal that saw him sell his 50 percent ownership stake in Murder Inc.’s masters to Iconoclast while receiving funding for various film and television projects.
Founded by French-born music industry power player Oliver Chastan, Iconoclast entered the music rights acquisition arena in February by purchasing the rights to rock legend Robbie Robertson’s music publishing and NIL (name, image & likeness), plus his recorded music interests.
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Irv Gotti broke down his nine-figure deal while speaking with WorldStarHipHop at the 2022 BET Awards in Los Angeles on June 26.
“I’m signing a deal worth $300 million,” he explained. “Imma tell you what it is: $100 million of the deal is me selling my masters. What my billionaire n-gga was saying, he’s absolutely right. 20 years later, my masters — and I only own half, I own 50-50 with Universal Music Group — half my masters is worth $100 million. That’s fucking insane!”
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He added: “Not only is the company buying my masters, but they’re giving me like a $200 million line of credit for me to not just produce and create, but now own my television [properties].”
The news of Eve’s lucrative deal comes in the midst of what has been a busy few weeks for her.
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On September 21, she began a year-long residency as the 2024-25 Scholar-in-Residence at NYU’s Steinhardt School of Culture, Education, and Human Development.
The position finds the Philly native having “a series of meetings, classroom visits, and intimate conversations with students and faculty” about her career and the evolving music industry.
In a statement, Steinhardt dean Jack H. Knott said: “We are thrilled to be hosting Eve as our 2024-25 Scholar in Residence. She will share the expertise she’s gained as an award-winning artist in music, film, and television, as well as a philanthropist working with young people in the arts. I know our students and faculty will learn from her engagement and support of our efforts to advance equity, belonging, and innovation.”
The announcement coincides with the release of Eve’s forthcoming memoir Who’s That Girl?, co-written by famed Hip Hop journalist and NYU adjunct professor, Kathy Iandoli, which hit stores on September 17.
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“Ya’ll, I can’t believe I am saying this but I am thrilled to announce I will be joining the 2024-25 Scholar-in-Residence at NYU’s Steinhardt School of Culture, Education, and Human Development,” Eve said in an announcement to social media. “My year-long residency kicks off September 21 with a welcoming event at NYU. I want people to get an understanding of who I am as a person outside of music. I am looking forward to getting to know the NYU community.”
