Jay-Z and Kanye West will auction off the Maybach that was seen in their music video Otis to support the recovery efforts towards The East Africa Drought Disaster. Over 12.4 million people have been affected by the East Africa drought and famine, which is affecting countries like Somalia, South Sudan Djibouti, Ethiopia and Kenya.

MTV News asked an expert to appraise the cost of damage to the mutilated Maybach and the price reached to $150,000 for a fully reinforced frame. How much would you bid for this Maybach?

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Wait until you see what they did to the Maybach. Watch The Throne now available exclusively at Best Buy.

According to Business Insider, Kanye West and Lady Gaga are investing in Turntable.fm. The two artist and other investors have contributed to the $7.5 million financing round. Turntable is a brand new online social network that revolves around listening to music with others, giving thumbs up to tracks you hear that you like, and earning “DJ points” that win you cool new avatars.

Its Pandora and an AOL Chat room put together. Read the instructions on how to use Turnable here and don’t forget to check out the site and put your DJ skills to the test.

Jay-Z ranks number one on Forbes Hip-Hop Top Earners List. In the past 12 months Jay-Z has earned $37 million. Diddy ranked second earning $35 million, roughly half of that total coming from a lucrative partnership with Diageo’s Ciroc vodka. Check out the rest of the list below. Continue Reading…

Watch The Throne August 8th on iTunes.

Kanye West and Jay-Z will release Watch The Throne on August 2, pre-order the album here. Just in case if you were wondering the cover was designed by Riccardo Tisci, Creative Director of Givenchy.

Kanye West has partnered up with French design partnership M/M (Paris) for a line of silk scarves inspired by the artwork for his latest album My Beautiful Dark Twisted Fantasy. The five limited-edition designs named Power, Phoenix, Face, Priest, and Ballerina, will cost  $365 for purchase click HERE.

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Here is a closer look at the Nike Air Yeezy 2, Kanye West rocked it during his perfromance at the 2011 Coachella Valley Music and Arts Festival.