It is rumored that Jay-Z wants $100 million to launch his own record label.

In 2007, Jay-Z quit his role as president and CEO at Def Jam Records and in the same year he was named the second highest earning musician in the world by business bible Forbes magazine, with annual earnings of $83 million.

Jay-Z is reportedly asking music labels for an enormous investment in his new project Carter Music Group, but has so far seen his demands dismissed.

A source told the New York Post newspaper: “Jay-Z is asking for way too much. He wants a label to give him $100 million for the Carter Music Group and provide for overhead, development and digital investment. It’s crazy. He wants the label to basically be his venture capital fund - but unlike a venture capital, they won’t get 50 per cent.”