Rap mogul Chris Lighty, the much-beloved manager of artists like Diddy, 50 Cent, and Mariah Carey, died this morning in New York City from a self-inflicted gunshot wound to the head, according to police. Lighty, who had founded the Violator record label and management company, was reportedly in the middle of an argument with his estranged wife, Veronica, who filed for divorce last year. Police say Lighty walked out of his Bronx apartment and, moments later, a gunshot was heard. Lighty was found dead with a handgun sitting next to him.

• Tory Burch appears to have lost her shot at winning the title of Mom of the Year: On a flight from Miami to NYC, the designer/society staple was spotted lounging in first class while her kids and nanny had to make do with coach. [P6]
• Olivia Palermo still seems to think her gig on MTV's The City is going to help her become a "serious actress," poor thing. [P6]
• Tom Cruise was photographed touching Katie Holmes' stomach, so obviously she must be pregnant, no? [OK!]
• Paris Hilton is in London this week. And she's providing lots of entertainment to the British public. She's already announced that she has no plans to choose Amy Winehouse as her new BFF, she doesn't know who the country's prime minister is, and she isn't planning to date Prince Harry out of "respect" for Chelsy Davy. [TS, DM, Hello]

♦ Music manager Chris Lighty, who has worked with the likes of Diddy, 50 Cent, and Busta Rhymes, has picked up two condos in the Chelsea Stratus building on West 24th Street for $5.28 million. [NYO]
♦ Tech exec Michael Sprague has put his five-story townhouse at 73 Bedford Street on the market for $8 million. [Cityfile, Corcoran]
♦ Giuseppe de Corato, CEO of the fashion company Luigi Borrelli, and his wife, Holly Lang, have sold their apartment at 15 West 20th Street for $2.65 million. The buyers are Greg Sovell, co-founder of the underwear line C-IN2, and Andrew Cohen. [Cityfile]