Jay-Z To Launch five star hotels.

Jay-Z is launching a chain of five star hotels.

The rap entrepreneur recently purchased land in Manhattan's upmarket Chelsea neighborhood for $66 million through his company, J Hotels.

And now Carter and his business partners, Charlie Blaichman and Abraham and Scott Shnay, have announced their plans for the luxury buildings.

The Manhattan spot will be the firm's flagship location, with the aim of expanding the chain -- to be named after the company -- across the country.

NEW MONEY : 50 Cent spends $2 Million on 6-Mile Journey

According to sfgate, "retired" rapper 50 Cent is set to spend over $2 million on a six-mile journey through London to attend separate performances at two award shows on the same night.

The star is performing at the Vodafone Live Music Awards in West London but is also booked for the MOBO Awards at the O2 Arena in Greenwich afterward.

The star is reported to have booked three helicopters, a fleet of SUVs and a team of ex-special forces.