That didn't last long!

According to a new report, Jay-Z and his partners are selling their 40/40 Club in Las Vegas for an undisclosed amount.

Jay-Z and crew only opened the club in January 2008!

No reason was given for the sale of the Vegas branch, but Jay-Z did issue the following statement:

"The sale is a great business decision; we are delighted. We look forward to expanding the brand even further to Chicago and Tokyo."

The Vegas branch must have been sucking big time!

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The credit crisis is hitting everyone!

Former Jay-Z bestie and Roc-A-Fella Records company co-founder Damon Dash and his wife, fashion designer Rachel Roy, are in jeopardy of losing two of their Manhattan apartments after failing to pay their hefty mortgages.

Their bank says in a court filing Dash and Roy owe $7.3 million on the two properties and have begun foreclosure proceedings.

Dash and Roy were supposed to make monthly payments of $78,500.

Crazy! One of their monthly payments is the entire price of a home (or at least a nice condo) in some parts!

Yikes!

Too bad Dash isn't pals with filthy rich Jay-Z anymore!

[Image via WENN.]

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So, who's got the biggest dick???

According to Forbes….

In the last year alone, Jay-Z released a platinum album and signed a $150 million deal with concert promoter Live Nation for a 10 year contract.

But 50 Cent is laughing all the way to the bank!

After taxes, 50 Cent took in over $100 million when his stake in the high-calorie VitaminWater was bought by Coca-Cola.

In total, he made over $150 million in just 12 months. That's almost double what Jay-Z made last year.

Guess it helps that 50 is also involved with G-Unit clothing, video games, and films!

And, rappers today are starting to diversify more than ever before. It's not just about the music. It's about the music, the movies, clothing lines, endorsement deals. Etc. Etc.

Whatever gets them rich quicker!

After Jay-Z, coming in third on the top of the richest hip-hop artists for 2008 is Diddy - coming in third again for the second year in a row.

Diddy brought in $35 million from all his revenue streams, like his clothing line, record label, reality shows, and the vodka he doesn't like to promote, Ciroc.

And coming in fourth on the list is Kanye West who made $30 million.

Even the rappers who haven't worked in years are making millions just living off their royalties.

Like Dr. Dre who make $15 million last year. Even Tupac brought in about $15 million and he's been dead for over 10 years.

We need to drop our rap album ASAP!

[Image via WENN.]

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Hip hop divas unite.

According to a new report, Jay-Z is set to work with Kanye West AND Timbaland on sessions for his new album.

Yeah, he's not retiring any time soon!

Early reports said that Jay's new stuff was going to be produced solely by Timbaland, but the hip-hop star has revealed that the sessions are more of a "musical competition" between his peers.

Hova says, "I'm a person that works off music. If Timbaland makes 10 great tracks then he produces the album, if Kanye West makes 10 great tracks then he produces the album; if he makes three, I'll take three. I let the music dictate the direction. You know I love Timbaland, he is like a brother to me, but until the music is done it's premature."

We can't wait to see what will come of all this.

They're all such big personalities. We wish we could be a fly on the wall of Jay-Z's studio!

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Multimillionaire Jay Z has been sued by current and former employees of his NYC club 40/40, according to reports.

The employees claim they were denied hourly wages and forced to be compensated by customer tips alone.

WTF?

They also assert that they were forced to pay for breaks, spills, and "walkouts" on the job.

The report goes on to say that hundreds of former employees could be eligible to collect on the claims if their case wins in court.

Things aren't looking good for Hova.

The source claims that a federal judge has admitted the club owners violated federal labour laws after reviewing an earnings report for at least two workers who showed they were not paid for overtime at the venue. The judge said, "The record contains corroborating evidence of the allegations."

Such disappointing news.

We always thought of Jay Z as a pretty good guy.

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Picking Jay-Z to be one of the headliners of the U.K.'s Glastonbury was highly controversial and heavily criticized.

So…

The music festival came and went this past weekend.

How did Hov do???

CLICK HERE to check out his cover of Oasis's Wonderwall paired with his own 99 Problems (above).

Thoughts????

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Is newlywed Beyonce already growing inside with child Jay-Z's child????

The New York Post is reporting that the singer is preggers!!!!

"Pals of the tight-lipped newlyweds say the songbird is expecting the couple's first child," reports the paper with certainty.

Only time will tell if it's true.

A rep for Beyowulf saucily responds to the spermination story, "I don't know if she's pregnant. Let me perform an ultrasound and get back to you."

Please. And thanks!

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Shocking news. Shocking shocking.

Mariah has released a remix (featuring Jay-Z) of her new single, Bye Bye and we actually like it.

We like it better than the original!

Check it out below.

[Image via WENN.]

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According to paperwork filed with the state of New York this past Friday, Jay-Z and Beyonce were indeed married on Friday, 4/4.

Dontcha forget that we were the first to reveal the nup date!

Jay, Bey — can y'all please release an official wedding picture now?

Or, are we waiting cuz Daddy Knowles is still trying to bleed a mag dry?

[Image via Getty Images.]

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