Who is Steve Stoute? Tidal deal controversy explained as Nicki Minaj seemingly calls Diddy Jay-Z's 'bff'

Steve Stoute, founder of UnitedMasters, shared his thoughts on Nicki Minaj's criticism of Jay-Z for choosing Kendrick Lamar to perform at the upcoming Super Bowl halftime show. During an episode on The Pivot podcast on Friday, Steve criticized several rappers for disapproving of Jay-Z's decision. He praised Kendrick as an "unbelievable performer," adding that the "hate that was spewing this week" was confusing.

The record executive also called out Nicki’s fans for adding to the criticism of the Super Bowl decision, labeling it "wrong" and "way out of line." Steve said he was surprised at Nicki going off on Jay-Z on a personal level, reasoning that the Roc Nation co-founder opened doors of opportunities for her.

At one point during the interview, Steve mentioned the music streaming service Tidal, which is co-owned by Jay-Z, and explained why the company did not pay Nicki for their agreement:

"I think in that case what Nicki did was wrong…To bring up Tidal, his streaming company, that he gave you equity in, that you didn’t sign the f**king paperwork and that's the reason why you left millions of dollars on the table, that man [Jay-Z] didn't do nothing to you."

On September 22, 2024, Nicki Minaj responded to Steve Stoute's comments in a series of tweets. In one tweet, Nicki seemingly alluded to Diddy, implying that the music mogul was Jay-z's "BFF":

"They gotta keep the conversation on me so that no one asks about these charges against their BFF," she said.

For unversed, Steve Stoute is a record executive who founded the music distribution company UnitedMasters in November 2017 and continues to serve as its CEO.

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Steve Stoute's career explored amid back and forth with Nicki Minaj

Steve Stoute founded the creative agency Translation in 2004, where he served as CEO. From 1990 to 1999, he was with Interscope Geffen A&M Records, working as Executive Vice President. Before that, Steve was the President of Sony's Urban Music division. He also managed notable artists like Mary J. Bilge and Nas.

Stoute was part of a popular beauty brand, Carol's Daughter, as he joined the company as the CEO and Managing Director in 2005. Under his leadership, the board of investors included many famous industry faces, including Jay-Z, Mary J. Bilge, Jada Pinkett Smith, Will Smith, and Jimmy Iovine.

On September 22, 2024, Nicki Minaj responded to Stoute's recent comments regarding her involvement with Tidal. Taking to X, Minaj shared:

"I received a call advising tidal was sold & they made no money on the deal so all they could offer me was a million dollars…but wait, there's more!"

She continued:

"The lawyer advised that Desirat advised him that I HAD TO SIGN THE AGREEMENT IN 24 HOURS IF I WANTED THE 1MM or the "offer" was off the table."

Nicki Minaj added in another tweet that Tidal "scammed" her and offered to pay her "a million dollars" for retaining her silence. She told her fans, Barbz, that she turned down the suggestion, saying for her, God’s grace was sufficient and that she did not need the company’s "hush money."

In 2015, Jay-Z got involved with Tidal as he bought major shares in the company. Several other artists, including Beyonce, Alicia Keys, Nicki Minaj, Calvin Harris, Lil Wayne, Jason Aldean, Coldplay’s Chris Martin, J. Cole, Madonna, Daft Punk, and a few others, became the company’s shareholders.

In 2021, Square bought Tidal. According to Baller Alert, each shareholder received over $8 million. However, Nicki Minaj revealed earlier this month about not receiving "one red penny" when the company was sold for $300 million.