December 29th 2023.
Joe Budden remembers how disappointed he was when Jay-Z was appointed president and CEO of Def Jam Records back in 2004. It was a groundbreaking move for the hip-hop world, but Budden, who was an artist on Def Jam at the time, wasn't too thrilled about it.
"It was really hard to accept," Budden said on The Pivot Podcast. "Here was a rapper, one of our peers, now in charge of when DMX and LL Cool J's music would be released. I didn't take it well at all."
The appointment came after Island Def Jam Music Group bought the remaining 50% stake in Jay-Z's Roc-A-Fella Records, and the bidding war for Jay-Z's contract ended with L.A. Reid appointing Hova to lead the famed record label. But Budden didn't take the news well.
"Every interview they booked for me, I kicked their back in," he admitted. "Every chance I had in front of a microphone, I said disparaging things about people who were possibly trying to help me. I was just pouring fuel on the fire."
It was a huge moment for Jay-Z, who said of the venture: "I have inherited two of the most important brands in hip-hop, Def Jam and Roc-A-Fella. I feel this is a giant step for me and the entire artistic community."
But for Budden and the other Def Jam artists, it was a moment of mixed emotions. Jay-Z was now their boss, and the situation didn't sit well with them.
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