Almighty Jay Reveals How He Scammed His Record Label Out Of $500K

Almighty Jay Explains How He Finessed His Record Label ‘Atlantic Records’ Out Of $500K

Almighty Jay is currently trending after a video surfaced of the rapper revealing how he finessed his record label ‘Atlantic Records’ out of $500k.

In the viral video, the 25-year-old rapper explains how other artists can finesse their labels and make extra money for themselves.

According to the Galveston, Texas rapper, he registered his home a studio. “When I was with Atlantic, I registered my home as a studio, they did not know that,” he began.

Almighty Jay / Instagram

He revealed that in 2020, the label gave him a $500k studio recording budget. Jay the told the label he was going to record in a studio which unknown to them was his home. “The studio I’m going to record at is in my home. It’s registered as LLC,” he said.

“When I tell Atlantic ‘yo I found a studio, these are their rates, I want to record sessions over there, send the money to them.’ Guess what? When they approve of that, the sessions were approved, that $500k recoding budget that I got, they’re now sending the money to my LLC which is registered as a studio.”

He added, “And I’m recording music for free at home. That was another way on how money was being made without having to really break a sweat.”

Almighty Jay explains a resourceful way to fund a recording session without coming out of pocket when signed to a record label. 🎙️ 💸pic.twitter.com/7cS4ZuBVut

— XXL Magazine (@XXL) July 28, 2024

The explanation video is now making rounds on social media, garnering lots of reactions from impressed fans. “Nerds are one of the best things to happen to Hip-hop,” someone commented.

“Openly scamming half a million dollars that is literally coming out of YOUR OWN budget and thinking you gettin over is HILARIOUS,” another person wrote. “Not really a scam as long as the music was recorded,” someone else added.

Almighty Jay ditched his ‘YBN’ prefix in 2021, following a fallout with Nahmir. The former crew mate Nahmir had a heated exchange at the time that almost resulted into a physical altercation.

“I BEEN GOING BACK AND FORWARD WITH MY LABEL FOR MONTHS TRYNA GET THIS ‘YBN’ SHIT OFF MY NAME ON SOCIAL MEDIA. I’M ALMIGHTY JAY!” he wrote at the time.