(Cover) - EN Showbiz - Jay-Z tipped wait staff a staggering $50,000 after a party in Miami last night.

The 41-year-old rapper was celebrating the launch of his new album Watch The Throne and was in a generous mood, RadarOnline are reporting.

Jay-Z spent an estimated $250,000 on champagne for him and his friends and then left a hefty 20% tip.

"Jay knew that Mark Cuban spent over $100,000 after the Mavs won the championship a few months ago, and he wasn't about to be upstaged," a source told the site.

"He bought bottle after bottle of Ace of Spades and then went all out with the 15-litre bottle that cost $100,000 on its own!"

Beyonc Knowles' husband was at the Liv nightclub in the Fontainebleau Hotel when he showed off his wealth.

He was recently named the highest earning rapper by Forbes magazine with an income of $37 million in the past 12 months.

His new record is an eagerly anticipated collaboration with Kanye West and has received stellar reviews after its release last week.

The pair opened up an innovative store in the SoHo neighbourhood of New York to celebrate the launch with the temporary store only selling their record. (C) Cover Media