By Ann Brown
From – https://moguldom.com/
Reprinted – by Texas Metro News
In a recent interview with Shannon Sharpe on the Club Shay Shay podcast, entertainment industry veteran Steve Stoute provided intriguing insights into some of the most notable figures in music and sports, including Damon Dash, Ja Rule, and LeBron James.
Stoute held concurrent roles as the executive vice president of Interscope Geffen A&M Records and president of Urban Music at Sony Music from 1999 to 2009. In 2017, he founded the music distribution platform UnitedMasters, where he currently serves as the chief executive officer. Additionally, he founded the music marketing agency Translation in 2004. Stoute co-founded the non-profit Foundation for the Advancement of Women Now (FFAWN) with R&B singer Mary J. Blige in 2008. He is also an author, known for his book “The Tanning of America: How Hip-Hop Created a Culture That Rewrote the Rules of the New Economy,” released in 2011.
During the March 6 interview, Stoute delved into the longstanding feud between rappers 50 Cent and Ja Rule, shedding light on its origins. He revealed that 50 Cent perceived Ja Rule’s portrayal of a gangster image as disingenuous, given Ja Rule’s background as a Jehovah’s Witness.
“I think 50 knew that Ja was not who he was portraying as an image. Ja [was a] Jehovah’s Witness… I’m not saying they not supposed to rap, but Ja was coming up with this gangster image. It was like, ‘That’s a stretch for you…’ They had some very neighborhood beef,” Stoute said, Hip Hop Wire reported.
Stoute recounted incidents where tensions escalated between the two artists, including a confrontation in Atlanta and an altercation involving a chain.
“I remember when we signed 50 there was something going on. I think he snatched Ja’s chain, or somebody snatched somebody’s…And then they had a fight in Atlanta…and it was just like, I never understood it. I was like, ‘Why do you keep having problems with this guy?’ It was like he was always looking for problems…I think it was driven by this idea that this image he was portraying he didn’t think was authentic…It led to big issues. Ja and his guys ran up on 50 in the studio one day. They touched him up.”
Furthermore, Stoute shared his perspective on Damon Dash’s contentious relationships within the music industry. He attributed Dash’s strained partnerships to his uncompromising demeanor and inability to adapt to changing dynamics. Stoute suggested that Dash’s ego and confrontational approach hindered his ability to collaborate effectively, ultimately leading to his fallout with Jay-Z and other business associates.
“The way he spoke to people, the way he treated people. He was angry. He was angry because he had a strong perspective about his business philosophy […] People were becoming less beholden to him,” Stoute commented, Vibe reported.
Dash expressed his displeasure with Stoute discussing his fallout with Jay-Z. The Roc-A-Fella co-founder responded on Instagram, sharing a clip of Stoute discussing why Jay-Z distanced himself from Dash, alleging that he perceived a limit to Dash’s potential. In the post caption, Dash wrote, “This is the reason I had to confront @stevestoute a few years ago… because he consistently comments on other men’s affairs. Thankfully, I have grown beyond that. #staytuned @clubshayshay #culturevulture.”
Notably, Stoute recounted a pivotal moment in LeBron James’ career when the basketball prodigy turned down a lucrative offer from Reebok. Despite the allure of a $10 million signing bonus, James astutely recognized the potential for greater financial opportunities with other brands. Stoute praised James for his strategic thinking and confidence in his value, describing him as the greatest professional athlete across all sports.
“I started thinking, like, ‘If this guy… if he’s willing to give me a $10 million check right now, what is it to say if Nike or Adidas isn’t willing to give me $20 or $30 [million] upfront.’ Or to say if maybe the upfront money isn’t the biggest thing. Maybe let’s start thinking about the backend,” said James in a 2017 interview.
“(Paul Fireman) goes ‘Adidas is gonna do the deal, Nike’s gonna do the deal. He wants to go to Nike, his agent has already pre-approved the deal with Nike,’” Stoute said, Basketball Network reported. “In the record business, when you want to sign somebody, you give them the money right there on the front. Whatever you think the number is, we’ll give you this signing bonus right now to not even take the other meetings, because I figure if you’re meeting me, you’re really considering it.”
Stoute continued, “He calls his wife. When we land in the FBO, there’s a $10 million personal check waiting at the thing, because we going right to the office…Doing the pitch, and we got the final stage…Paul presents him the check, I remember staring at his face, ‘This is huge, we’re gonna sign LeBron James.’ We leave the room, we come back.”
He added, “When he leaves the check and says he’s gonna take the other meetings, I clapped. I knew the world changed. A young black man, 18 years old, walked away from $10 million going back to the projects. I clapped, and it was my idea that didn’t work. The freedom and confidence and belief in yourself to do that, this is a new generation of individuals, this is a new generation of thought that’s coming from African Americans…I was so proud of us in that moment.”
Stoute’s candid insights offer a compelling glimpse into the complexities of the entertainment and sports industries. His observations underscore the importance of authenticity, adaptability, and strategic decision-making in navigating the competitive landscape of these dynamic fields.
As Stoute continues to share his wealth of experience and perspective, his commentary serves as a valuable resource for understanding the intricacies of entertainment and sports culture.
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