Photograph: Jay-Z and Beyonce with Doug Morris, former CEO of Universal Music Group which owns Jay-Z’s Roc-a-fella records, Island Def Jam Records (formerly Russell Simons’ Def Jam) and current CEO of Sony Entertainment which owns Columbia records where Beyonce is signed.
Doug Morris’ net worth nearly doubles that of Jay-Z. So who are the real owners of hip-hop?"Despite the perception that Black entrepreneurs like P. Diddy, Russell Simmons, Jay-Z, Cash Money [or Young Money] are moguls, they are, in actuality, the children of their respective parent companies. P. Diddy’s Bad Boy Records is owned by Warner Music Group; Suge Knight’s Death Row by Interscope is owned by Universal Music Group; Def Jam is also owned by Universal… What’s worse is that, despite popular perception, there are no Blacks -none -in top executive positions of the parent companies. What the parent companies, as well as the Black moguls, would like us to believe is that “the R.O.C. is runnin’ this rap shit.” This why Jay-Z is touted as the ‘C.E.O of Hip-Hop.’ “
- M. K. Asante, It’s Bigger Than Hip-Hop: The Post Hip-Hop Generation, p. 111-112