“JAY-Z hit me like, ‘Yo, I’m coming to Atlantic Records. I’m going to to be the president of Atlantic Records.’” he relayed. “L.A. Reid was my man. I introduced L.A. Reid to JAY-Z. That’s how they got tight. So Jay’s like, ‘I’m coming to Atlantic. I need you and Lupe over at Atlantic with me.’ I’m like, ‘Cool.’ I’m thinking Jay’s coming to Atlantic so I do the deal.”
He continued, “When I get out [of jail], Jay hit me, I’ll never forget it, at two in the morning, like, ‘Yo, L.A. [Reid] hit me [and offered me the president of Def Jam]. I’ll give you your masters, I’ll give you this, I’ll give you this.’ It was a courtesy call on some brother shit, but really he was telling me he wasn’t coming to Atlantic.
“I’m like, ‘N-gga, you’d be stupid not to fuck with L.A. This n-gga is giving you your masters back. This n-gga’s making you president.’ You know, the whole shit with him and Dame [Dash] was crumbling. I’m like, ‘Yo, n-gga, you fixing to be that n-gga. I’m not salty.’ We cool because I could’ve went with anybody.”