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Hip-hop mogul Chris Lighty committed suicide this Thursday allegedly after an argument with his wife in the Bronx. Lighty, who managed artists like 50 Cent, Busta Rhymes, Diddy, Ja Rule and Mariah Carey, shot himself in the head behind his South Riverdale home around 11:30 a.m.. Sources say that cops found Lighty, 44, the founder of Violator Management, lying faceup on the basement patio in a pool of blood with a 9-mm. pistol at his side. Lighty’s wife of seven years, Veronica, told police he was facing financial woes that include a $5 million debt to the IRS. The Associated Press reported differently, claiming that Lighty paid off most of what he owed by selling a Manhattan apartment for $5.6 million in October. According to them, Lighty still owed more than $330,000 in state and federal taxes. On top of that, in April, he was sued by City National Bank for not paying them after he had overdrawn his account by $53,584.

The music industry is currently mourning his death. “On the entrepreneurial side, this is one of the biggest losses in hip hop,” said Datwon Thomas, executive editor of VIBE magazine. “The shock comes because of the way he carried himself,” Thomas added. “He was a strong man. The name of his company is Violator; it’s not a weak name . . . That’s the shock, because of his character.”