Remember when rumors about Jay Z and Beyonce paying $1.3 million to rent an entire floor at NY’s Lenox Hill hospital turned out be a lie? Well, they didn’t clear up that rumor like they did with the other rumors about the birth because they want you to believe that they spent that cash. Why? Because the money isn’t rolling in like it used to.
Both Beyonce and Jay Z haven’t had million selling hits in some time. And you know what happens to celebrities when their endless cash supply stops rolling in but they are still living beyond their means.
According to documents filed at the New York Department of Labor, 28 of the 56 workers at the fashion label were let go on January 6. That’s the day before the couple’s daughter, Blue Ivy, was born.
According to the documents, the cuts were made in the boys division of Rocawear clothing, the company that Jay Z and former business partner, Damon Dash founded.
But despite their money problems, Jay Z and Beyonce continued to leak lies to the media about extravagant purchases they made for Blue Ivy’s 2,200 sq. ft. nursery, such as the $20,000 baby crib pictured below from Poshtots.com.
According to court documents, sales at the iconic clothing brand have been steadily dropping since Jay Z sold off stocks in the company in 2007. But he still retains an interest in the company. Jay Z also sold individual licenses to vendors interested in benefiting off the Roc name. Jay Z was hit with a lawsuit brought against the label by one of its licensees, ROC Fashions at the end of last year.
