New Jay-Z Rep: Stingy?

Article written by: Asmara Wreksono
Posted on: February 8, 2012

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Along with the stream of news about his successful Carnegie Hall concert, some negativity arises about Jay-Z and it especially puts the spotlight about him being ‘uncharitable’. TheDaily.com reported that according to tax records, the rapper gave just $6,431 to his own charity “The Shawn Carter Scholarship Fund” in 2010 where he earned an estimated $63 million.

Jay-Z’s wife, singer Beyoncé made about $87 million but shelled none for her husband’s foundation.

Wait now, is he channeling Warren Buffet ways with money?  Because this doesn’t sound like what Buffet would’ve done.

Here’s what his rep said about Jay-Z being tight about the purse strings:

Jana Fleishman, his representative, declined to say whether Jay-Z has given any cash to the fund since 2010, but notes that he 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 in an email to The Daily.

Still, tax records show the charity 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 — a year for which tax returns for the charity are not yet available — a Jay-Z performance helped raise $1.25 million for the charity at its Carnival at Pier 54 event.

Global Philanthropy Group co-founder Trevor Neilson, who has advised clients like Bill Clinton and Richard Branson, said celebrities and the super-rich take different strategies when it comes to donating to their own nonprofits, but, “Jay-Z’s power to make a difference on these issues does not lie on his checkbook; it’s about his ability to make things cool, his ability to mobilize young people.”

Making things cool and mobilizing young people to do good things do have its merits.  However, do you think Jay-Z should donate more money to his own charity and encourage his wife to do the same?  Discuss!