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Jay Z Is Officially A Billionaire

Mr. Carter is the first rapper to hit the billionaire mark.

Rapper and business mogul, Jay-Z is officially the first hip-hop artist to become a billionaire, according to the new cover story in Forbes.

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JAY-Z is officially a billionaire https://t.co/ZT8QGqJvpO

Last year, Jay-Z pulled within a hair of beating out Diddy as the wealthiest man in hip-hop. This year he has officially grinded his way to the top.

The article reflects on a 2010 meeting between the rapper and then 80-year-old billionaire, Warren Buffet, which left Buffet impressed stating that “Jay is teaching in a lot bigger classroom than I’ll ever teach in.”

“For a young person growing up, he’s the guy to learn from.”

The magazine follows with a breakdown of Jay’s empire—which consists of music, a streaming service, liquor, art real estate and stakes in other companies such as UBER—and determines that it “conservatively totals $1billion.”

The piece also mentions Jay’s journey of entrepreneurship with the birth of his own brand including the Rocawear clothing line that sold for $204 million in 2007. It also mentions D’Ussé, a cognac he co-owns with Bacardi, Tidal, the music-streaming service and his multilayered music and sports empire, Roc Nation.

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The final estimate comes after “looking at the artist’s stakes in companies like Armand de Brignac champagne—applying our customary discount to private firms—then added up his income, subtracting a healthy amount to account for a superstar lifestyle,” says Forbes. The numbers were then vetted by “a roster of outside experts.”

Catch the breakdown below.

  • Armand de Brignac champagne
    $310 million
  • Cash & investments, including a stake in Uber worth an estimated $70 million
    $220 million
  • D’Ussé cognac
    $100 million
  • Tidal streaming service
    $100 million
  • Roc Nation
    $75 million
  • Music catalog
    $75 million
  • Art collection
    $70 million
  • Real Estate
    $50 million

 

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