Thursday, March 28, 2024

JAY-Z: Here’s How the Rapper Became Hip-Hop’s First Billionaire

Jay+Z+2019+Roc+Nation+BRUNCH+Arrivals+n4PmHprHN_Wl
Jay-Z and Diddy attend 2019 Roc Nation THE BRUNCH on February 9, 2019 in Los Angeles, California.
(Source: Vivien Killilea/Getty Images North America)

*Jay Z fans are thrilled by the latest Forbes announcement that the rapper is officially hip-hop’s first billionaire.

According to the report, the Brooklyn-native earned the billion-dollar crown through investments in liquor, art, real estate, and stakes in companies like ride-share service Uber. Forbes previously reported that Jigga and his wife Beyoncé became a billion-dollar couple in May 2017, with a total $1.16 billion net worth, per Us Weekly.

The publication also notes how Jay spoke about the correlation between money and happiness in a 2011 interview.

“They’re not tied to each other. It allows you freedom, it allows you to go places where you can smile and you look at the sunset, but there a lot of people with tons of money who aren’t happy,” he said. “Life is about balance, right, you have to have some type of balance. There’s time for work and time for play.”

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Prior to becoming a global superstar, the 49-year-old artist was a drug dealer in his hometown. He started his own label, Roc-A-Fella Records, in 1996 through which he released his debut album, “Reasonable Doubt.” Since then, Jay-Z has earned 14 No. 1 albums, 22 Grammys and a $500 million in pretax earnings, according Forbes.

One of Jay’s frequent collaborators, Swizz Beatz, noted how Hov’s business savvy is “bigger than hip-hop … it’s the blueprint for our culture.”

Adding, “A guy that looks like us, sounds like us, loves us, made it to something that we always felt that was above us,” Swizz told Forbes.

“If he’s a billionaire now, imagine what he’s about to be,” he continued. “Because he’s only just starting.”

As reported by Complex, Forbes calculated Jay-Z’s various financial backings to determine the full scope of his baller status. His $220 million in cash and investments includes a $70 million stake in Uber, a $100 million investment in D’Ussé and $310 million in his champagne, Armand de Brignac.

 

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