This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Terrible Financial Choices in Music History

7. Jay-Z and R. Kelly's worlds collide
As noted earlier, Jay-Z doesn't make bad businesses decisions often, and -- at the time -- this seemed like a no-brainer. He had just wrapped up a radio-fueled feud with Nas that is now the stuff of hip-hop legend, his album The Blueprint just went double platinum and produced his highest-charting song to date -- the party anthem Izzo (H.O.V.A). Its follow-up pulled off the same sales feat while giving him the biggest commercial success of his career thus far with help from future wife Beyonce Knowles on '03 Bonnie and Clyde.

R. Kelly, meanwhile, had just worked with Jay-Z on the tracks Guilty 'Til Proven Innocent and Fiesta, just had a hit single with The World's Greatest from the movie Ali and was putting the finishing touches on his highly successful Chocolate Factory album and hits such as Step In The Name of Love, Ignition and Snake. On paper, a collaboration album and tour seemed like a great idea. Certain realities made it less than ideal.

In February 2002, a videotape surfaced of R. Kelly allegedly having sex with and urinating on a 14-year-old girl. As R. Kelly and Jay-Z's album Best of Both Worlds hit stores, cops were searching Kelly's Florida home for evidence. Kelly was indicted on child pornography charges and arrested in January 2003. The album's tour was postponed until 2004, but even that couldn't save the enterprise as friction between R. Kelly and Jay-Z came to a boil during a performance at Madison Square Garden (MSG) when R. Kelly quit the show, claiming two members of the audience flashed guns at him. Saying Kelly had held up the show for much of the tour and tested his patience for the last time, Jay-Z kicked Kelly off of the bill and completed the final leg with a "Jay-Z & Friends" lineup.

Though Jay-Z and R. Kelly both recovered nicely -- with Jay-Z's album sales and business ventures flourishing and R. Kelly being acquitted of all charges in 2008 -- the tour was an unmitigated disaster and Best of Both Worlds' 1 million in U.S. sales (or 500,000 per headliner) was a professional low for all parties involved.
5 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.70 -0.60%
FB $101.91 0.90%
GOOG $683.11 -0.15%
TSLA $150.47 4.73%
YHOO $26.76 -1.25%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs