At a press conference yesterday (3/23), DMX announced that he would not do anymore recording for the Def Jam label.

Over the years DMX has reached platinum status several times, selling millions of albums during his career with Def Jam Records. He claims he has made Def Jam almost $50 million dollars and in return received compensation that he called “a loan.” He went on to say that record label fuzzy math results in artists paying for items the labels give as gifts.

“Hey, we was looking at the new Range Rover, we thought it would be a great idea if we got it for you,” DMX offered as an example. “They get it for you, you look on your P&L (profit and loss) report, you’ve got $80,000 and like ‘thank you’ – you end up thanking yourself.”

He also added that unfair contracts obligate artists to labels for too long.

“The highest paid artist gets paid 18 cents on the dollar, it’s straight robbery,” DMX said. “They still own your music and they ask for maybe 27 songs each album and they only use about 16 and give the rest away. It’s straight robbery man, I can’t be a part of it anymore.”

DMX also had a few words for the radio industry, “All the radio stations are bought and paid for, it all comes from the heads of the record companies. It’s not about talent anymore.”