Def Jam President Jay-Z has found yet another way to make money.

Beyonce's boyfriend recently completed a lease agreement to expand his popular high-end sports lounge, 40/40 Club, to five different spots in Asia. Hova and his partners hope to have these clubs opened by 2008 in Hong Kong, China, Shanghai, China, and Tokyo, Japan.

The word Beyonce Knowles uses to describe her sexy butt has been listed as an official term.

Bootylicious - taken from the chart-topping hit of the same name by the singer's former group Destiny's Child - is to be added to the dictionary.

Rap moguls enjoy Academy Award nominated movies, too - at least that's the excuse Jay-Z can use to explain why he was spotted in a movie theater watching "Brokeback Mountain," the tale of two gay cowboys who are sent to a mountain in search of work as sheepherders.

With his money, Hova should be able to get a screening copy to view in his home. No word on whether Bouncy (Beyonce) attended the movie with him.

The 47-year-old singer - who was last year cleared of molesting children - is reportedly in talks with Vatican officials.

Father Guiseppe Moscati, of the Millennium Music Society, said: "Michael Jackson is very interested in this project. We shall see what happens."

Just as Jay-Z's beef with longtime enemy Nas came to an end last year, rapper Cam'ron has ignited another flame of controversy and animosity with the Def Jam President.

Killa Cam has released a dis record seven minutes long, taking shots at Jay's looks, longtime girlfriend Beyonce and his sense of fashion. Cam also talks about Jay's split with former Roc-A-Fella partner Damon Dash.