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Monday, 3 June 2019

Jay-Z becomes the First Hip Hop Billionaire



According to Forbes Magazine who are majorly into financial information across the globe has named the Super Hip Hop Icon and businessman Jay -Z the first Hip Hop billionaire. Jay - Z started his career back in 1996 with the release of his debut album Reasonable Doubt alongside a record label (Roc - A- Fella) and 14 #1 albums and 22 Grammy awards to his name and he still remains relevant and named one of the best rappers to have ever touched the mic. He then went on the create his clothing line (Rocawear) with then business partners Dame Dash and Kareem Burke who where also co-owners of the label and since breaking off from these partners and sold his stake at Rocawear, he has since then gone onto establishing a new record label/Management/Sport Agent Company (Roc Nation). Shawn Carter as a business name popularly known as Jay -Z in his own right has also ventured into other line of successful business as highlighted below: 

  • Armand de Brignac: generally known as Ace of Spade is worth over $310 Million is 100% owned by Jay-Z launched in 2006. 
  • Cash and Investment: Jay-Z reportedly owns a stakes in the giant transportation business Uber which he bought back in 2013 and is now worth $70 Million and overall he is worth $220 Million in this category.
  • D'Usse: This is a cognac and a joint venture Jay-Z went into with the global brand Barcadi and the deal is worth $100 Million till date.
  •  Tidal: In 2015 Jay-Z purchased the online streaming site for over $60 million and today is worth over $100 Million and he co - owns it which a bunch of A-List artiste including his wife Beyonce
  • Roc Nation: Home to artiste and athletes such as: Rihanna, J.Cole, and Kelvin Durant, is worth $75 Million and this is a joint venture with Live Nation
  •  Music Catalog: A music career spanning over two decades and 14 #1 albums. Jay-z's music catalog is worth $75 Million too. 
  • Art Collection and Real Estate: Jay-Z is a lover of art and through the years, he has collected art that has brought his worth to $70 Million with pieces like Basquiat ''Mecca'' which he reportedly bought far back in 2013 for $4.5 Million. Also Jay-Z is not left out in the real estate business with the purchase of properties in the choice areas in the United States, has put his worth at $50 Million
So do the math and you can now welcome the newest member of the Billionaire Circle, Shawn ''Jay-Z'' Carter.

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