What is Irv Gotti’s Net Worth?
Irv Gotti is an American hip-hop and R&B record producer and DJ who has a net worth of $14 million. In the 1990s, he began his career as a DJ in New York clubs and undergrounds with the wish of becoming a rapper.
In 1995, he got a chance to perform in a hip-hop music video “Eyes on the Hip Hop” after spending three years alongside “Merlin Iman, 50 Cent, David Banner, and Yasiin Bey”. He is widely recognized for being the co-founder and CEO of “Murder Inc. Records” alongside his brother Chris Gotti.
He is mostly popular for his works with Jay-Z, DMX, and Kanye West and for producing a slew of number-one hits for Ashanti, Ja Rule, and Jennifer Lopez. He has produced close to 100 popular songs and over 50 different music videos.
Irving Domingo Lorenzo Jr was born on June 26, 1970, in the Hollis area of Queens, New York City. His father’s name is Irving and his mother’s name is Nee Nee Lorenzo. He was raised alongside his 7 siblings and struggled with family, money, and personal issues during his childhood.
Because of financial conditions, he started working as a drug dealer in high school, peddling crack and cocaine. However, a run-in with federal officials put an end to his dealing days. Instead of risking his life and serving time in prison in the early 1990s, he decided to pursue a career in music.
Gotti started his career as a DJ and played in New York clubs. He made his debut in the 1995 music video for “Eyes on Hip Hop”. In the same year, he directed the music video for Mariah Carey’s “Joy to the World” and penned the song “Can I Get a…” for the blockbuster film “Rush Hour” in 1998. He composed and produced the songs “Grand Finale” and “Story to Tell” for Hype Williams’ drama “Belly”.
Gotti co-founded the record company “Murder, Inc.” with his brother Chris. Over time, the label was distributed by industry giants like “Universal, Def Jam, and Sony Music”.
He produced the song “How Many Wanna” in the year 1999. Then produced the song “We Murderers Baby” for the popular comedy film “Next Friday”. In 2001, he also composed music for the film ‘Angel: One More Road to Cross.’ That year, he penned ten songs for various movies, as well as his debut song for Ashanti.
In 2002, he directed numerous music videos like “Foolish, Down 4 U, and Baby (Remix)”. His label’s two biggest stars were Ashanti and Ja Rule.
He had an appearance in an episode of the tv series “Conan” in 2011. The same year, he wrote the song “Foolish” for the film “About Time” and remixed the song “I’m Real” for the documentary “Jennifer Lopez: Dance Again” in 2014.
He wrote and produced the song “I’m Coming Out” for the film “The Other Woman” and returned to work as a music video director in 2018 after an almost 11-year break. His most recent project was the production of Kanye West’s single “Brothers” in 2019.
$300 Million Deal
At a time, Gotti claimed that “Universal Music Group” offered him $1 million for his records and half of his masters with Universal Music Group owning the other half.
Most recently, Gotti agreed to a massive $300 million deal with Oliver Chastan’s company “Iconoclast” selling 50% ownership in his companies in exchange for the capital he will receive to fund his TV ventures. Out of $300 million, his master’s is worth $100 million, and $200 million in the line of credit that he used to not only produce and create his television programs but also to now own them.
Gotti was married to Debbie Lorenzo and have three kids together, Angie, JJ, and Sonny. Debbie accused Gotti of having an affair with Ashanti and ended up getting a divorce with him in 2013. Though his marriage to Debbie did not work out, he moved on and is now married to Ashley Martelle, who is reported to have once been a Taz Angel.
Gotti’s brother was involved in a shooting incident in New York in 2003. Authorities questioned whether Lorenzo caused the wound on himself due to the way the bullet entered his leg during the investigation but no actual suspects were ever discovered.
Money Laundering Case
Murder Inc. changed their name to The Inc. following a 2003 inquiry that included a raid by 50 government agents on Murder Inc.’s Manhattan offices. Gotti surrendered to federal authorities in 2005 to face money-laundering allegations for assisting a friend and convicted drug kingpin in concealing over $1 million in illicit drugs revenues.
Prosecutors claimed that Gotti’s friend Kenneth McGriff known as Supreme on Queens’ streets, would simply send sacks of cash to Mr. Gotti’s label, Murder Inc., on Manhattan’s Eighth Avenue. Gotti, his brother Christopher Lorenzo, Ronald Robinson, Ja Rule’s manager, and Cynthia Brent, the label’s bookkeeper, were all charged with money laundering.
Gotti and his brother pled not guilty and were freed on $1 million bonds after putting up their parents’ house in Bronxville to guarantee the bonds, and he denied collecting drug money to run his business.
|Net Worth||$14 Million|
|Date Of Birth||26 June 1970|
|Income||$2 Million (Annual)|
In 2018, Gotti paid $3.636 for a beautiful enclave in Southern California’s Encino. In 2019, he put it on market for a luxury rental at $12,500 per month, and in 2021, he listed it for sale at $1,849,000. Gotti has also owned a $998,000 2,062 sq. ft loft-style home in New York City’s Tribeca area since late 2000.
Gotti is a record producer and music video director who makes the majority of his money through his label Murder Inc. He has recently begun to venture into the television industry with significant connections.
Gotti earned more than $10 million annually at the height of his career. His wealth was considerably reduced when charges of money laundering allegedly interrupted business at his record label.
Irv Gotti Net Worth
As of 2022, Irv Gotti’s net worth is estimated at around $14 million, making him one of the wealthiest music video directors and record producers in the world. Gotti has made over $20 million by producing singles for “Ashanti and Jay Z”.
Most of his income comes from brand endorsements and contracts deal. He earns an annual income of $2 million and has an estimated monthly income of $250 thousand.