“Now it’s time for me to take on new challenges. I am pleased to have had the opportunity to build upon the Def Jam legacy,” he said in a statement.
It is unclear who, if anyone, will replace Jay-Z.
Jay-Z, whose real name is Shawn Carter, says he will continue recording at Roc-A-Fella and Def Jam. Def Jam produced several blockbuster records including those of Jay-Z, Rihanna and Kanye West.
According to reports, the 38-year-old music mogul, who is dating singer Beyonce, will concentrate on opening more of his 40/40 nightclubs.
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