Jay-Z Shows Money Ain't A Thang, Burns Up $250K In Miami Hot Spot

Rap mogul Jay-Z is living up to his status as Forbes' Cash King by reportedly spending $250,000 over the weekend on champagne while partying in a Miami nightclub.

Details of the party fest hit the Internet Monday (August 15) evening.

The rapper and hip hop mogul partied at a Miami nightclub on Sunday night in celebration of his new album with Kanye West, Watch The Throne, and RadarOnline.com has confirmed he dropped a whopping $250,000 on champagne. According to a source close to the Liv nightclub in the Fontainebleau Hotel, Beyonce's 41-year-old husband tipped a generous $50,000 to the waitstaff at the end of the night. (RadarOnline)

Heading into the weekend, Jay promised to break the record for champagne purchases at Liv nightclub.

"I'm just coming to hang out," Jay said in an interview last Friday. "I'm gonna break the record for bottles popped in one night. I don't know what the record is but I'm assuming since it's Miami, it's gotta be somewhere around 75 bottles. I'm going that way." ("99 Jamz")

In 2006, Jay explained why he would no longer support or endorse luxury champagne company Cristal.

The champagne that was once the libation of choice for wealthy hip-hop stars will no longer be served at Jay-Z's 40/40 Club. The hip-hop mogul/club owner says he was highly offended by Cristal Champagne owner Frederic Rouzaud's comments to The Economist in which Rouzaud called the shout-outs rappers give to his company's beverage in their music "unwelcome." "It has come to my attention that the managing director of Cristal, Frederic Rouzaud, views the 'hip-hop' culture as 'unwelcome attention,'" Jay said in a statement. "I view his comments as racist and will no longer support any of his products through any of my various brands, including the 40/40 Club, nor in my personal life." Jay has also asked the hip hop community to support him in boycotting the pricey beverage. (SPIN)

Last week, Jay earned the title of Forbes' top hip-hop Cash King.

Jay-Z (aka Shawn Carter) leads all comers once again with $37 million in earnings since last August. A majority of the dough is proceeds from his Blueprint 3 tour. Nipping at his heels, however, is fellow mogul Sean "Diddy" Combs, who raked in a neat $35 million from his Bad Boy record label, his Sean John clothing line and his lucrative Ciroc vodka deal. West may have landed at No. 3, but he's a ways down there at "only" $16 million. The rest of the top 10 had similar years, revenue-wise, with Cash Money honcho Bryan "Birdman" Williams tying Lil Wayne for the next two spots with $15 million, showing that tha Carter isn't doing too bad, either. (E! Online)