Forbes Declares Jay-Z The First Hip-Hop Billionaire – According to a new report released by Forbes on Monday, that Jay-Z has become the first hip-hop artist to rack up a billion-dollar fortuner. Jay-Z once rapped “I’m not a businessman, I’m a business, man.”
Forbes Declares Jay-Z The First Hip-Hop Billionaire:
Forbes’ Zack O’Malley Greenburg writes, “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,”
Since then, the rapper-turned-mogul Jay-Z has earned 14 No. 1 albums, 22 Grammy awards and over $500 million in pre-tax earnings.
Jay Z Net Worth:
Since its launch in 2006 in JAY-Z’s music video for “Show Me What You Got,” Armand de Brignac is estimated by Forbes to now be worth $310 million. JAY-Z’s cognac D’Ussé, which is a joint venture with Bacardi, is estimated to be worth $100 million.
Jay-Z, whose real name is Shawn Carter, either owns or has a stake with a $70 million stake in Uber, his ownership of the streaming service Tidal, his $70 million art collection, his ownership of the Roc Nation sports management company, $50 million in assorted real estate holdings and his music catalog.
To calculate Jay-Z’s net worth, we looked at the artist’s stakes in companies like Armand de Brignac champagne, applying our customary discount to private firms. (He owns 100% of Armand de Brignac and has partial ownership of the other companies.) 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.
Jay-Z, who grew up in a Brooklyn housing project, rose to fame in 1996 with his debut album “Reasonable Doubt.” His sixth album, 2001’s “The Blueprint,” was added to the Library of Congress’ National Recording Registry — reserved for albums that are “culturally, historically, or aesthetically significant” — earlier this year.
As for Jay-Z’s impressive art collection? $70 million.
“I bought some artwork for 1 million / 2 years later, that (expletive) worth 2 million / Few years later, that (expletive) worth 8 million / I can’t wait to give this (expletive) to my children.”
-“The Story of OJ”
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The New York native owns two homes in the Empire State: A Tribeca penthouse that he purchased in 2004 for $6.85 million and a $26 million East Hampton mansion bought in 2017 following the birth of twins Rumi and Sir. Jay-Z also picked up a $88 million Bel Air estate in 2017.