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Jay-Z named first hip-hop billionaire by Forbes

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Jay-Z named first hip-hop billionaire by Forbes

According to Forbes, rapper and mogul, Jay-Z has accumulated a fortune worth $1 billion “making him one of only a handful of entertainers to become a billionaire — and the first hip-hop artist to do so.”

 

 

His business stakes include liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber. He further owns a D’Ussé (a cognac he co-owns with Bacardi), and Tidal music-streaming service and a clothing label Rocawear, which was sold to Iconix for more than $204 million in 2007.

Jay-Z will join the likes of George Lucas (Star Wars), Steven Spielberg, Oprah Winfrey and Michael Jordan who are part of Forbes entertainment industry billionaires.

 

 

To calculate his 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.

Below Forbes has listed his businesses and how much they’re worth:

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

Source: Forbes

 


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