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UPDATE 5 p.m. EST

The NY Daily News reports,

Hip-hop mogul Chris Lighty died Thursday morning after he shot himself after an argument with his estranged wife at his Bronx apartment, sources told the Daily News.

Lighty, 44 — a longtime manager of 50 Cent, Diddy, Ja Rule and Mariah Carey — stepped outside his South Riverdale apartment about 11:30 a.m., after a spat with his wife, Veronica, police sources said.

Suddenly, a gun shot was heard and Lighty was found lying faceup with a 9-mm. pistol next to his body, sources said.

UPDATE 3:00 p.m. EST

The NY Daily News reports,

Hip-hop mogul Chris Lighty died Thursday morning after apparently shooting himself in the head in his Bronx apartment, sources told the Daily News.

Lighty, 44 — a longtime manager of 50 Cent, Diddy, Ja Rule and Mariah Carey — was found dead inside his South Riverdale apartment about 11:30 a.m., police sources said.

It appeared he died from a bullet to his head, sources said. A gun was recovered next to his body.

Law enforcement sources said Lighty — who divorced his wife, Veronica, last year — may have been dealing with financial struggles, including owing about $5 million to the IRS.

Chris Lighty, our dear friend and music industry legend has passed away. GlobalGrind is able to confirm that he has died.

Founder and chief executive of Violator Management/Brand Asset Group, Lighty has been a part of the music scene since 1988 when he joined Russell Simmons and Lyor Cohen at Rush Management.

This will undoubtedly hit the music industry hard as Chris has worked with some of the greatest like Mariah Carey, Busta Rhymes, Q-Tip, Missy Elliott, Fantasia, Mya, Diggy Simmons, Ja Rule, Mobb Deep, LL Cool J, Nas and 50 Cent

With little details to report at the moment on this incident, we will keep Chris’ family and friends in our prayers.

Developing…