the label was formed in 2005. in 2007, in an interview with "vibe" magazine, lil wayne detailed he stepped down as president of the label, and had given the position to cortez bryant. as of 2009, mack maine is serving as president. canadian rapper drake signed a joint venture between cash money records and young money. president mack maine confirmed that omarion was no longer on the label after many rumours were circulating the internet.