Jay-Z Chats With Bill Gates

Def Jam CEO Shawn "Jay-Z" Carter and Microsoft Corp. Chairman Bill Gate the world's richest man chatted backstage at Microsoft's big online advertising summit but did not appear on stage together.

In an on-stage interview with CNBC's Donny Deutsch, Jay-Z shared his experiences and perspectives on how to stay relevant amid constant changes in the music industry, and relate those lessons to the world of online advertising.

Gates also sat down with Deutch for his own on stage interview where he revealed he often doesn't carry a wallet, he rarely gets bothered by people when he's out in public, and that he would prefer not to be the world's richest man.

Microsoft is trying to reshape it's business to better compete with Google in online advertising. As it tries to attract advertisers, Microsoft faces an uphill battle because of its limited share of the Internet search market. According to Nielsen-NetRatings Google accounts for nearly 50% of all online searches will MSN accounts for about 11%. Google reported revenue for the three months ended March 31, of $2.25 billion. Almost all of Googles revenue comes from advertising.