Almighty Jay Explains How He Finessed Atlantic Records Out of Half a Million

We haven't heard much from Almighty Jay since the YBN crack-up of a couple of years ago.

He popped up over the weekend to explain how he finessed Atlantic Records when he was on the label.

This high key smart asf pic.twitter.com/yIayr0LGVU

— Champagne Sloshy (@JoshyBeSloshy) July 28, 2024

"I registered my home as as studio, when I was with Atlantic, they did not know that," Jay explains.  "So, 2020, you got a $500,000 studio recording budget.  So what I was doing was, you got a $500,000 recording budget, and I'm about to record at Up Studios.  Up Studios, where I'm going to record at, is in my home.  It's registered as LLC ... So, guess what?  When the sessions were approved, that $500,000 recording budget that I got, they are now sending the money to my LLC, which is registered as a studio, and I'm recording music for free at home."

This is more of a backdoor loan than a pure finesse. The label is almost certainly going to deduct the money they paid for the studio from his record sales. So if he does more than 500K in sales, he will end up in the same place as he would have been if he recorded at home and didn't charge the label.

Nevertheless, should he be bragging about this?