Irv Gotti, the famed hip-hop music executive from New York City, has died at the age of 54. His three children shared a message on his social media, writing, "It is with heavy hearts that we announce the passing of our beloved father,

A founder of Murder Inc. Records, he helped launch the careers of Ja Rule and Ashanti and was credited as a producer on 28 records that made the Billboard Hot 100.

TMZ has reported that hip hop mogul and record producer Irving Lorenzo, better known to the world as Irv Gotti, has reportedly died in New York City after recently suffering a stroke that led to bleeding of the brain.