Elvis got his records took,

from Jay Z – La Familia Lyrics on Rap Genius

Meaning

Jay chasing the Beatles now, we get it. Wayne is far from reaching that status is what Jay’s implying.

Lil Wayne on the other hand took Elvis' record for most Hot 100 hits, Hova continues to refer to Weezy like an inferior rapper, as he already surpassed Elvis a while ago.

Elvis has left the building now I’m on the Beatles ass

This is actually a big up to the rap game in general, hence the use of “we”: hip-hop has eclipsed rock and roll as the most popular genre of music in terms of sales.

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