Jay-Z: No Time To Be The President Of Def Jam..

In case you haven’t heard, over the holidays Jay-Z quietly stepped down from his position as president of Def Jam Records. Now sources say he did it because he was tired of being tied down.

“Jay-Z is focusing on opening five more 40/40 clubs. He opened Las Vegas on New Year’s and up next are LA, Miami, Chicago, London and Houston. He’s also looking for hotel space in New York. He wants to open a chic, boutique hotel called The Jay.

He just didn’t have time to be president of Def Jam.”

Source: R.W.S