The `Otis` rapper - who teamed up with Kanye West on the new record- spent a grand total of $250,000 on champagne at the party, which was held at Miami`s Fontainebleau resort.
At one point during the celebration, four muscle-bound men reportedly carried in a golden ice bucket holding 20 bottles of Armand de Brignac champagne.
Jay also splashed out $95,000 on a 15 litre bottle of Armand de Brignac`s special Ace of Spades bubbly.
A witness said: "It takes two people to serve the champagne due to the size and weight of the bottle!"
Both the resort and Ace of Spades are name-checked on the `Watch the Throne` track ` Primetime`. Among Jay`s party guests were DJ Clue, Ne-Yo and Kim Porter.
Unfortunately neither his wife, Beyonce Knowles, not Kanye could appear at the party as the former was performing in New York and the latter was out of the country.
A source said: "Jay Z was well behaved and laid low all night on a banquette with his entourage of boys."
The `99 Problems` hitmaker is not the only celebrity to leave a generous tip; earlier this year Johnny Depp thrilled staff at a British pub when he left $1,150 in tips, and in February actor Brendan Fraser left a $60 tip after getting a $16 pedicure.
Jessica Simpson is also known for her generosity, leaving a $300 tip for the $500 bill at New York Italian restaurant Lavo, accompanied by a note to her waitress, reading: "You were amazing and make this world a better place, Love Jess."