He famously sampled I'ts A Hard Knock Life in his song, um..Hard Knock Life, so it's kind of fitting that Jay Z is to remake the film, Annie.
Screenwriter and actress Emma Thompson said: "I have been writing the script for nearly three years, it's exciting."
She said she's also excitedly anticipating "having dinner with Jay Z", who will be doing the music for the film. This time round, though, there won't be a curly-haired ginger girl playing the lead role, but none other than Will Smith's daughter, the 11 year old actress and singer Willow Smith.
The film will also take place in modern day New York. Emma told the BBC: "In the autumn, we get to go to LA to work with Willow and work on more of the script.
"Jay Z has already started working on the music. We will start shooting in the spring in New York."
And Willow's already getting high praise. Emma gushed: "I really like Willow. She is getting so tall. I mean both Willow and Jaden [her 14-year old brother] are remarkable."
In other Jay Z-related news, new Radio One Breakfast Show DJ Nick Grimshaw revealed that he got more than a little starstruck when he saw Jay and wife Beyonce partying in a Hackney pub recently.
Even though he's already chummy with the likes of Alexa Chung, Kate Moss and Harry Styles, he's not so frosty cool around American superstars. He told The Guardian: "I was trying not to stare at her, it was like, no way!"