The most heralded business man in all of hip-hop has apparently been in a 360 deal with Live Nation for the past 10 years.

That’s correct! Jay-Z, the rapper who entered the music industry on his own terms with Roc-A-Fella records in the late 1990s, is currently locked into a 360 deal with Live Nation for his touring income. However, from 2008-2018 his 360 deal also accounted for his recordings and publishing, according to Billboard.

The deal was made when his Roc Nation imprint was formed in a joint partnership with Live Nation. The former functions as a subsidiary and includes everything from a record label to a management company.

Roc Nation Records boasts artists like Rihanna, J. Cole and Willow Smith, while Roc Nation Management houses prominent stars such as Meek Mill, Mariah Carey and Shakira. There’s also a sports division and holdings for companies like TIDAL.

Roc Nation was originally perceived as a spiritual successor to Roc-A-Fella that did not include co-founders Damon Dash and Kareem “Biggs” Burke. However, it has failed to capture the same fanfare in the music world. It’s only widely loved and respected artist throughout the years has been J. Cole. Rihanna joined the imprint much later after departing Def Jam around 2014. She’s only released one album since she signed with the label.

Dash, Jay’s former partner, has been critical of the rapper’s moves and has frequently downplayed his independence. Most recently, he accused Jay of “taking a job” with his NFL deal. Dash bashed his former cash cow during an interview with the No Jumper podcast a few months back.

However, Jay-Z’s net-worth of $1 billion and owning of his masters greatly outweighs the status of his record deal.

Even with Live Nation taking a piece of his music income for the past 10 years, he’s still been able to amass great wealth by diving into other business lanes and building a successful company with Roc Nation. But it’s still ironic that someone whose brand has been that of independence since the late 1990s is in a 360 deal.