Irv Gotti, the famed hip-hop music executive from New York City, has died at the age of 54. Def Jam Recordings shared a message on social media late Wednesday night confirming his death, saying the label is "deeply saddened.

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.

Music industry mourns the loss of Irv Gotti, the visionary behind Murder Inc. Records and architect of numerous hip-hop and R&B hits.