Forbes has officiated Jay-Z as hip hop’s first ever billionaire. This goes to show that having an empire state of mind is the key to a billion U.S. dollars worth of assets.
The 49-year-old rapper and husband to pop music icon Beyonce Knowles-Carter built an empire on music, properties, fashion and investments according to BBC.
A recently published Forbes piece wrote, “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.”
“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.” the article mentioned.
The magazine piece went on to say that the rapper’s penchant for actually building brands instead of endorsing brands is to thank for his billion-dollar status.
Jay-Z managed to reach his ranking as the first billionaire rapper and hip-hop artist through the following reported assets:
- Armand de Brignac ($310 million)
- Cash & investments ($220 million)
- D’Ussé ($100 million)
- Tidal ($100 million)
- Roc Nation ($75 million)
- Music catalog ($75 million)
- Art collection ($70 million)
- Real estate ($50 million)
Forbes’ estimates included “subtracting a healthy amount to account for a superstar lifestyle”.
Before becoming the billionaire that he is now, the rapper born as Shawn Carter lived a tough life. He was raised in the notorious Marcy housing projects of Brooklyn. Prior to becoming a musician, life in the projects forced the artist to dabble in drug dealing. He’s become a self-made man since then, amassing 14 albums that ranked No. 1, 22 Grammys and over $500 million in the past decade.