Jay-Z is making another major move with the launch of his first fragrance, Gold, arriving at Barneys just in time for the holidays. 

The hip hop mogul already has a successful business empire, but sitting on top of the world doesn't come without its drawbacks. Jay was recently under fire after recent allegations of racial profiling were made against Barneys, the retailer that will distribute the rapper's new scent. But the controversy and investigation hasn't stopped the "Magna Carta" rapper from going through with his new men's fragrance, infused with Sicilian bergamot, ginger, cardamom, amber and a bourbon vanilla base.

"For the 30 days before Christmas, it will be impossible not to know he has a fragrance," said Donald J. Loftus, the president of perfume management company Parlux Ltd. releasing the scent. "We are going to make a big noise." 

A part of his New York Holiday collaboration, Beyonce's husband will debut the eau de toilette at Barneys on November 20. Jay-Z was so headstrong throughout the creative process, involving Firmenich perfumer Ilias Ermenidis, that he reportedly rejected 3,200 suggestions for different fragrance names before picking "Gold."

Sales from his new venture will go toward his charity, the Shawn Carter Foundation, benefitting underprivileged youth. 

Jay-Z explained why he has every intention of still releasing the cologne. "I am not making a dime from this collection; I do not stand to make millions, as falsely reported. I need to make that fact crystal clear. The Shawn Carter Foundation is the beneficiary and the foundation is receiving 25% of all sales from the collaboration, 10% of all sales generated in the store on November 20th and an additional donation from Barneys."

The platinum-selling rapper continued, "This money is going to help individuals facing socio-economic hardships to help further their education at institutions of higher learning. My idea was born out of creativity and charity ... not profit." 

The scent's gold brick-shaped bottles, priced from $39 to $70, will come in three different sizes. The cologne will circulate to an additional 2,000 department stores on Black Friday, November 29. 

Think Jigga has the midas touch? Going for the gold? Tell us your thoughts in the comments section below!