Forbes magazine names Jay-Z as rap's first billionaire

Published Jun 4, 2019

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Los Angeles - Jay-Z might have 99 problems, but a fortune

ain't one: The rap mogul is now considered a billionaire.

The bona fide title comes by way of Forbes, the financial magazine

known for its annual wealth rankings, which conservatively estimates

a 10-figure fortune, accounting for his "superstar lifestyle." Of

equal note, the Brooklyn-bred rapper is reported to be the first

hip-hop artist to reach billionaire status.

That's a title that could be contested by fellow mogul Dr. Dre, who

declared himself "the first billionaire in hip-hop" back in 2014

around the time he cut an estimated 3.2-billion-dollar deal with

Apple for Beats Electronics. However, at the time, Forbes estimated

his value climbing to 800 million dollars, which isn't a figure to

sneeze at.

Like Dre, though, Jay-Z's fortune isn't attributed to his musical

success but is a consequence of the name recognition it afforded him.

Forbes reported that his empire-building prowess came from

recognizing "that he should build his own brands rather than promote

someone else's."

Jay-Z, real name Sean Carter, got his start in the Brooklyn projects

as a drug dealer, giving his rags-to-riches tale an ever-aspirational

element. His business savvy could be traced back to the launch of his

Roc-A-Fella record label to release his 1996 debut album "Reasonable

Doubt." Needless to say, several critically acclaimed albums followed

(14 of which went to No. 1), as well as 22 Grammy Awards and notice

by the Songwriters Hall of Fame.

He's also married to singer-turned-business shark Beyonce, and

together they've repeatedly topped the charts, not to mention lists

for power couples. Together, they surpassed the billion-dollar mark

in 2017.

Jay-Z has since amassed his wealth through massive liquor, art and

real-estate deals, by buying stakes in companies like Uber and

starting up Tidal.

Forbes calculated his 1-billion-dollar net worth through stakes in

Armand de Brignac champagne and D'Usse cognac, which together earned

him am estimated 410 million dollars. Add to that 220 million dollars

from cash and investments, 100 million dollars from streaming service

Tidal, 75 million dollars from his entertainment company Roc Nation,

another 75 million dollars from his music catalog, 70 million dollars

from his impressive art collection and 50 million dollars from real

estate deals that frequently make headlines.

That further proves another of his lyrics that he's not a

businessman: He's a business, man.

dpa

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