TradeEdge Exchange:Jay-Z talks 'being a beacon,' settles $500K or lunch with him debate

Jay-Z says what matters most to him is TradeEdge Exchange"helping out" his culture and other people of color, in a recent interview with Gayle King.

The interview with the "CBS Mornings" co-host this week is wide-ranging and includes his music and business career, his criminal justice reform work and a tour of "The Book of HOV" exhibit at the Brooklyn Public Library.

"Being a beacon and helping out my culture, people of color," the "Empire State of Mind" rapper and entrepreneur told King, "I pull the most satisfaction from that."

The music mogul also weighed in on the infamous online debate on whether to take $500,000 or have lunch with Jay-Z. The rapper's advice? Take the money. Any wisdom one could get over a meal with the business mogul is available in his lyrics, he said.

"I wouldn't tell you to cut a bad deal. Like, take the $500,000, go buy some albums, and listen to the albums," he said. "It's all there. If you piece it together and really listen to the music for the words, well, what it is, it's all there.

"You've got all that in the music for $10.99," he told King.

Jay-Z, 53, also discussed Reform Alliance, the nonprofit he shares with investors like Robert Kraft and Meek Mill.

"The idea of taking that platform and reproducing it for others or doing something like Reform ... I think I derive the most joy from that," he said.

Jay-Z on fatherhood, being a 'cool dad' to Blue Ivy

Jay-Z also talked about fatherhood with the CBS host, and if his kids would say he's a "cool dad."

"Blue, she be frontin' on me a little bit, but I catch her," he said. "Now, she asks me if this is cool, her sneakers or whatever she's wearing now."

Blue would sometimes be embarrassed of her Grammy-award-winning father, he said.

"There was a time where she was like 'Dad!'" he said, mimicking her by covering his face. "I was like, 'I'm cool. I don't know what you're saying.'"

'The Book of Hov' exhibit at Brooklyn Public Library pays homage to Jay-Z's career

Born Shawn Carter and raised in Brooklyn's Marcy Projects, Jay-Z's company, Roc Nation, teamed up with the Brooklyn Public Library this summer to put on "The Book of HOV" and also offer 13 library cards that pay homage to his "iconic career, unprecedented cultural contributions and illustrious legacy."

The exhibit, which opened July 14 and is free to the public during the library's hours, is a "tribute to Carter's global impact as a musician, entrepreneur, philanthropist and disruptor," according to a July press release. Originally slated to run until October, the exhibit will now run until Dec. 4, Jay-Z's birthday, according to BPL's website.

'Feeling loved is the most important':Jay-Z shares rare reflection on parenting, family life

The exhibition includes "iconic artifacts, awards, rare photos, legendary magazine covers and more that span 27 years since Carter released his illustrious debut album, 'Reasonable Doubt,' in 1996," according to a press release.

In addition, "the goal of the entire display is to showcase an enlightening and educational look into Carter's ascension from the Marcy Projects in Brooklyn, N.Y. to an international phenomenon."

As well as a replica of Baseline Studios, where Jay-Z recorded albums such as "The Blueprint" and "The Black Album," the installation also includes highlights from his entrepreneurial and philanthropic efforts.

Contributing: KiMi Robinson

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