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Source: Variety

Jay-Z Becomes The First Billionaire Rapper

Jay-Z (real name Shawn Carter) has become the first hip-hop artiste to attain a billionaire status. This was revealed by Forbes recently having totalled his fortunes conservatively to $1 billion. The hip-hop mogul’s wealth encompasses investments made in liquor, an art collection, real estate and also stakes in companies like Uber and Tidal.

 

“Less than a decade later, it’s clear that Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the first hip-hop artist to do so,” Forbes’ Zack O’Malley Greenburg writes.

 

“Jay-Z’s steadily growing kingdom is expansive, encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber,” he adds.

 

In spite of this feat, Jay-Z didn’t start off easily.

 

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The 49-year-old started his ascent from the Marcy Houses in Brooklyn. Jay-Z was actually a drug dealer before becoming a musician.

 

He then started his independent record label, Roc-A-Fella Records, after which he released his 1996 debut, Reasonable Doubt. Jay-Z soon became a household name. Through his business-mindedness, he has continued to expand his portfolio to include smart investments inside and outside of music.

 

“To calculate his net worth, we looked at the artist’s stakes in companies like Armand de Brignac champagne—applying our customary discount to private firms—then added up his income, subtracting a healthy amount to account for a superstar lifestyle. We checked our numbers with a roster of outside experts to ensure these estimates were fair and conservative. Turns out, Jay-Z really is a business, man,” Forbes wrote.

 

jay-z-becomes-the-first-billionaire-rapper
Source: TMZ

 

Media Company, Forbes calculated Jay-Z’s Major Investments as:

  • Armand de Brignac champagne ($310 million)
  • Cash and Investments ($220 million), including stake in Uber worth an estimated $70 million
  • D’Ussé cognac ($100 million)
  • Tidal streaming services ($100 million)
  • Roc Nation ($75 million)
  • Music catalogue ($75 million)
  • Art collection ($70 million)
  • Real estate ($50 million)

 

Also, being married to uber-superstar Beyonce, who is worth an estimated $355 million, doesn’t hurt a bit.

 

If Jay-Z is a billionaire now, we wonder what he would be in a decade!

Sarah Ifidon

Sarah is a creative writer who writes content about the craziest thing like 'how farting helps you sleep', to thought provoking topics like, 'depression and suicide'. She is currently a lifestyle content writer at Plat4om. Her topics of interest gravitate around relationships, health and fashion tips. She is a professional model, full time writer, an ex-beauty queen, and a wattpad author. Enjoy the words of these versatile writer and don't be too shy to reach out.

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