Jay Z has signed a 10-year deal with tour promoter Live Nation, which is reportedly worth $200m (£155m).
The rapper has been working with the company for nearly 10 years already.
The new contract will see him tied to touring with the promoter until he’s 57.
“Live Nation and I entered unchartered territory in 2008. Over nine years, we have travelled the world producing historic music experiences,” Jay Z said in a statement.
For the next 10 years, we will continue redefining the live event landscape.”
An anonymous source is said to have revealed the amount of money the deal is worth to Jay Z.
The source, who’s close to the situation but not allowed to talk about it publicly, has told The Associated Press that Jay Z earned $200m for the partnership.
The rapper previously signed a $152m (£117m) 10-year deal with Live Nation in 2008.
The promoter has produced a number of Jay Z’s successful live shows, including his tours with his wife Beyonce and with Justin Timberlake.
In 2007, Live Nation signed a $120m (£93m) deal with Madonna.
Live Nation, which is based in Los Angeles and also owns the House of Blues brand, bought eight major festivals worldwide in 2016.
It has a stake in the Isle of Wight Festival, which is the firm’s sixth deal so far this year.
In the UK, Live Nation runs Download and Wireless festivals as well as having stakes in Glastonbury, Reading and Leeds and Latitude.
The company also manages and operates Motorpoint Arena Cardiff, Motorpoint Arena Sheffield, the O2 Apollo Manchester and Southampton Guildhall.
It merged with Ticketmaster in 2010 to become Live Nation Entertainment.