Jay-Z has moved far away from his humble beginnings of drug dealing to become the first hip-hop artist to own a fortune that’s worth billions of dollar. Forbes announced in their latest magazine on Monday that Jay-Z is the first hip-hop billionaire.
According to the magazine,
“…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 artiste to do so,”
Jay-Z massive wealth comes from not only his successful music career but also from smart investments in liquor, art, real estate and businesses like Uber. The rapper who has won 22 Grammy awards has amassed $75 million from his music catalog alone and $75 million from his entertainment label, Roc Nation, which features top athletes and artists like Kevin Durant and Rihanna.
Jay-Z’s champagne company, Armand de Brignac, which he launched in 2006 is now worth $310 million while his cognac D’Usse, a venture he shares with Bacardi is worth $100 million. His various business investments in Uber and the streaming service Tidal is worth $70 million and $100 million respectively.
The rapper keeps proving over and over again that beyond being a musical force to reckon with, he is also a savvy businessman that should not be underestimated. In March this year, Jay-Z and his wife, Beyonce received the Vanguard Prize at the GLAAD Awards.