Scrooge McHov? Jay-Z Made $63 Million In 2010 But Reportedly Only Gave $6,000 To His Own Charity
Jay-Z is worth $420 million dollars according to Forbes. No doubt he's worked hard for it. The question is, when you're that wealthy do you have an obligation to give back to those less fortunate? Or at the very least break off a chunk of cash for your own charity?
Those are questions Jay-Z is probably thinking about today after The Daily published a report claiming the superstar rapper made $63 million dollars in 2010, but only gave $6,431 to his own charity. The Daily came up with those numbers by examining tax records for the Shawn Carter Scholarship Fund.
Hov's wife, Beyonce, reportedly made $87 million dollars that same year, but did not donate any money at all to the Foundation.
According to the report, the average American gives about 3.5 percent of their income to charity. Jay-Z gave about 0.01 percent of his estimated income to his own charity in 2010.
The Foundation was established in 2003 by Jay and his mother, Gloria Carter. According to it's mission statement "Shawn Carter Scholars are studying at nearly 100 institutions of higher learning throughout the nation." Scholarships awarded help students with "the costs of books and lab fees, food, travel and other self-care expenses." But where exactly is the money to fund these endeavors coming from if Jay-Z is contributing so little?
Hov's representative, Jana Fleishman, told The Daily that the rapper contributes in other ways.
“Jay, along with his family, provided office support, overhead support, [mother] Mrs. Gloria Carter’s 100% effort and time, computers, FedEx expenses, accounting, and treasury function support. This was at no cost to the charity,” Fleishman said.
The Daily noted that tax records show the charity only had to pay $1,209 for office expenses, $1,401 for telephone, and $4,696 in other expenses in 2010.
Fleishman also said that in 2011 Jay-Z helped raise $1.25 million for the charity at its Carnival at Pier 54 event. The Daily couldn't verify those numbers because tax records for 2011 are not yet available.
To be fair to Hov he is playing two Carnegie Hall concerts for free (the first was last night, the second is tonight). Proceeds are being spit between the United Way of New York City and The Shawn Carter Scholarship Foundation, but it's not known exactly how much money that will translate into for the foundation.
To read the rest of the report head over to The Daily.
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Comment
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Comment by bullet on February 8, 2012 at 9:54am -
@illwill seems to me everybody that dont like jayz with the exception of Dame was just a loser D-Haven is a known rat and I'm from BK that aint no XXLMag information Jaz-o is washed up and bitter and you could say the same for sigel as nice as beans is his music is Stale I'm not defending Hov i just find it hilarious in every situation especially in the street people think you have to hold there hands being next to me made you famous what f****** more do you want the guy to do and you calling people idiots for what they read all this tabloid s*** is false its just different persons perspectives on a person who probably doesnt even know them "shouldnt argue w/ fools because people from distance cant tell who is who!" we are all outsiders no one knows what happened btw any of those dudes except Dehaven bird a** its only natural to be mad at the winner you see beans full beard looking fat and you feel sorry for him but how is that jayz's fault? Bleek aint complaining and his music sucks lol
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Comment by T- Make it rain €€€€€€€ on February 8, 2012 at 9:50am -
this n**** ugly as m*********
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Comment by bullet on February 8, 2012 at 9:48am
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PEOPLE HAVE this notion that because your from the hood you have to go to the projects and buy bricks for the drug dealers toys for the kids and turkeys for the homeless listen carefully poor people are poor for two reasons the main reason being they have no economic knowledge you could drop a million dollars on a poor uneducated neighborhood and the idiots in there will still be broke after buying there beamerz and bently's smh The other reason is opportuniy there are alot of opportunies in gated communities becasue your neighbor could be bill gates's assiteant or some s*** going to college is an opportunity that an uneducated person cant understand ... Who cares if Hov spent 6 grand what would be the difference if he drop his enitre fortune sending kids to college go to a college campus nowadays with all these handout programs bunch a f****** gangbagngers and idiots majoring in entertainment ...
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Comment by NubianQueen on February 8, 2012 at 9:33am -
i find that too hard to believe. $6, 431 barely pays for a semester of my college tuition
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Comment by Timur on February 8, 2012 at 9:30am -
$6,431??? Camel make it to the $0 in this year!
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Comment by ill will on February 8, 2012 at 9:29am
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Its crazy how the love for one person can blind you,some of you act like you know this n**** personally,and go as far to even defend the n****.All you idiots have to do is read man,every friend or business partner this guy ever had said he was a piece of s***,did you really think they were all hating?The n**** left D in marcy and j was the God-father to his daughter,jaz-o said he a snake,dame, benie,should I keep going.when benie first started getting at jay he said he didn't want anything but a conversation,this guy couldn't even do that,and thats when benie went in.I like the guys music to but this guy is not down to earth at all my n*****.
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Comment by b4world on February 8, 2012 at 8:19am -
http://www.youtube.com/watch?v=zvohEQ8bpsc
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Comment by Isiah on February 8, 2012 at 3:35am -
"When your sense got that much in common And you been hosteling since
Your inception
F*** perception
Go with what makes sense
Since
I know what I'm up against
We as rappers must decide what's most important
And I can't help the poor if I'm one of them
So I got rich and gave back
To me that's the win, win
The next time you see the homie and his rims spin
Just know my mind is working just like them
(The rims that is)"- Jay-Z "Moment of Clarity"
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Comment by Mookie on February 8, 2012 at 3:26am -
I Woulda at least gave up 10-5 million if I MADE 60million or even a million.smh
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Comment by paul on February 8, 2012 at 3:17am -
If I was that fugly. I'd be a greedy piece of s*** like Jay as well. All that paper and he hardly even gives to his fellow man. Old greedy camel a** n****.
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