Pete Wentz’s band, Fall Out Boy, for which he is the principal lyricist and bass player, has sold upwards of 5 million albums worldwide. Decadence Records, Wentz’s label, has signed bands like Gym Class Heroes, Panic at the Disco and The Academy Is…, who’ve all turned into massive successes. Clandestine Industries, Wentz’s clothing line and book publishing company, recently opened the flagship location in Wentz’s hometown of Chicago. He’s been busy in his personal life too, marrying his muse, Ashlee Simpson last month. And the two are expecting their first child later this year.

You’d think as a successful musician, entrepreneur and family man, Wentz would want to settle down a little, and soak it all in. Wrong! He’s just gearing-up for his biggest project yet: redefining the way we experience music videos on TV and the Web, as host of MTV’s new show, “FN MTV.”

So we got Wentz on the phone to talk to him about life, music and the next big thing in music video history!

Check out Pete Wentz’s full interview after the jump! (more…)