According to law enforcement, 44-year-old Lighty's body was found by police around 11:30 AM in the backyard of his Bronx apartment. Lighty was pronounced dead on the scene, where a semi-automatic firearm was recovered.
The death is being investigated as a possible suicide.
According to sources close to Lighty, the hip hop mogul had been in an argument with his ex-wife and shot himself in the head.
The couple got divorced last year and Lighty hadn't been the same since.
Many rappers and industry figures expressed their sadness on Twitter.
"R.I.P CHRIS LIGHTY THE MAN THAT SAVED MY LIFE!!!" Fat Joe wrote.
"RIP Chris Lighty --- a very Sad day in Hip Hop and Life itself --- my brother is gone," DJ Whoo Kid tweeted.
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