“He” is Jay-Z. Asher is giving big ups to Jay, and then saying it is bitter sweet to take shots at him.
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The Batphone he refers to is the means by which important people close to him can contact him, without getting some manager or assistant.
i.e. Diplo in this tweet: https://twitter.com/#!/RiFFRaFF_SODMG/status/197148486729351168
This is an allusion to the OG batman comics when batman would have a specific phone just for his personal communications.
old school sneakers like these:
Asher is pointing out that despite his own personal success, Jay-Z signing an artist good enough to go gold is a rare occasion. (exceptions include Kanye and Rehanna)