Jay Z might be keeping his fans on their toes when it comes to his musical releases, but while they're awaiting a new album, the veteran rapper has signed another epic contract. The Magna Carta Holy Grail MC has teamed up with Live Nation to announce their new touring partnership, a 10-year deal reportedly worth a whopping $200 million, according to Variety.

The deal amongst the two parties involves worldwide touring, which will see Live Nation producing and promoting any of Hov's future concert events over the next 10 years. A source says the deal is worth the large sum of $200 million, which means he will be touring with the brand until he's at least 57 years old. While the rapper has been decreasing his amount of shows over the past couple of years, this could mean he's planning on picking up the pace as far as booking tours and shows in the future.

“Live Nation and I entered unchartered territory in 2008," said Hov in a statement. "Over 9 years, we have traveled the world producing historic music experiences. Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next 10 years, we will continue redefining the live event landscape."

Earlier this week, Forbes released their annual list of the five wealthiest artists in hip-hop. Jay came in at No. 2 behind Diddy with a net worth of $810 million, but with this new deal, it might make Hov the first billionaire in hip-hop.

Hov is slated to perform this year at a couple different festivals, including his own Made In America Festival in Philadelphia, The Meadows in New York City and the Austin City Limits Music Festival in September.

Swizz Beatz also drummed up some buzz when he recently posted a photo of the two together, writing "#albummode" in the caption. We'll have to see what the Brooklyn native is cooking up this summer, but for now, we're sure he's counting some of his newly-earned money.

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