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,

Gotti died at age 54 after cofounding Murder Inc. Records with his brother, Chris, in 1998. Irv Gotti, the influential music executive who cofounded Murder Inc. Records — the label that helped launch Ja Rule,

Before launching Murder Inc. in New York City in 1998, Gotti worked as an A&R at Def Jam, where he helped bring DMX, Jay-Z and Ja Rule to the label. Under the moniker DJ Irv, he produced the song “Can I Live” from Jay-Z’s 1996 debut, Reasonable Doubt.