Understanding Steve Stoute: Tidal Controversy Unveiled as Nicki Minaj Labels Diddy as Jay-Z’s ‘Best Friend’

Steve Stoute, the founder of UnitedMasters, expressed his views on Nicki Minaj’s recent criticism of Jay-Z regarding his choice of Kendrick Lamar to headline the upcoming Super Bowl halftime show.

During a segment on The Pivot podcast aired on Friday, Stoute condemned the backlash from various rappers directed at Jay-Z’s decision. He hailed Kendrick as an “extraordinary performer” and remarked that the “hate being thrown around this week” was perplexing.

The record executive called out “Nicki’s fans” for contributing to the criticism of the Super Bowl selection, stating that it was “misguided” and “totally out of line.” Stoute expressed surprise at Nicki’s personal attack on Jay-Z, reasoning that the Roc Nation co-founder had opened numerous doors of opportunity for her throughout her career.

At one point during the interview, Steve referenced the music streaming service Tidal, co-owned by Jay-Z, and provided insight into why the company did not compensate Nicki as per their agreement:

“In this instance, what Nicki did was inappropriate…To mention Tidal, his streaming platform, which he offered you equity in, a deal you didn’t formalize with the necessary paperwork, resulting in you leaving millions on the table, that man [Jay-Z] didn’t wrong you.”

Steve Stoute, who founded the creative agency Translation in 2004 and served as CEO, was part of Interscope Geffen A&M Records from 1990 to 1999, where he held the title of Executive Vice President. Before that, he was the President of Sony’s Urban Music division and managed prominent artists such as Mary J. Blige and Nas.

Additionally, Stoute became involved with the beauty brand Carol’s Daughter in 2005, serving as CEO and Managing Director. Under his stewardship, the board attracted notable investors including Jay-Z, Mary J. Blige, Jada Pinkett Smith, Will Smith, and Jimmy Iovine. In November 2017, Steve established the music distributor UnitedMasters and remains its CEO.

Nicki Minaj Responds to Steve Stoute’s Comments

On September 22, 2024, Nicki Minaj addressed Stoute’s recent comments concerning her relationship with Tidal. Taking to X, Minaj stated:

“I received a call informing me that Tidal was sold and they made no profits from the deal, so all they could offer me was a million dollars…but wait, there’s more!”

She elaborated:

“The lawyer mentioned that Desirat instructed him that I HAD TO SIGN THE AGREEMENT IN 24 HOURS IF I WANTED the $1 million or the ‘offer’ would be withdrawn.”

In another tweet, Nicki Minaj claimed that Tidal “scammed” her, offering to pay her “a million dollars” to maintain her silence. She told her fans, the Barbz, that she declined the offer, emphasizing that she didn’t need the company’s “hush money” as God’s grace was enough for her.

In a separate tweet, Nicki seemed to hint at Diddy, insinuating that the music mogul was Jay-Z’s “BFF”:

“They gotta keep the conversation on me so that no one asks about these charges against their BFF.”

In 2015, Jay-Z became involved with Tidal by purchasing significant shares in the company. Other artists, including Beyoncé, Alicia Keys, Nicki Minaj, Calvin Harris, Lil Wayne, Jason Aldean, Chris Martin of Coldplay, J. Cole, Madonna, and Daft Punk, also became shareholders.

In 2021, Square acquired Tidal. According to Baller Alert, each shareholder was paid over $8 million. However, Nicki Minaj revealed earlier this month that she had not received “one red penny”when the company was sold for $300 million.

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