Jay-Z has been named by Forbes as the first rapper in the world to become a billionaire. In a cover story which broke yesterday, the American magazine says Beyonce's husband, Jay-Z is the world's first billionaire rapper. The magazine says Jay-Z is successful because rather than endorse big brands, he builds them himself.
Here's Why Jay-Z Is The World's Best Billionaire Rapper
According to Forbes, Jay-Z's empire “conservatively” totals $1 billion, or about €890 million. The summation was made after assessing his several businesses, real estate acquisitions and his art collection. Jay-Z is one of only a few billionaire entertainers. He's also the first artist to claim such a fortune.
His major valuables include his $310 million (€275 million) ownership of Armand de Brignac champagne and a $100 million (€89 million) stake in D’Ussé cognac. There's also his $100 million Tidal streaming service, $50 million in real estate and a $70 million (€62 million) investment in Uber. His music catalogue is also valued at about $75 million, the result of careful negotiation of his publishing rights.
“It’s bigger than hip hop,” music producer Kasseem “Swizz Beatz” Dean told Forbes. “It’s the blueprint for our culture. A guy that looks like us, sounds like us, loves us, made it to something that we always felt that was above us.”
“Most times rappers end up broke or nowhere,” Jay-Z said in 2005, when his estimated worth was $350 million (€311 million). “It’s time for someone to take it to the next level, to become an executive and open the doors for the culture.”
A Bit About Jay-Z
Jay-Z, who once rapped "I'm not a businessman, I'm a business, man", grew up in a housing project in Brooklyn. He was selling drugs as a teen before he began rapping. Without a record label, he began selling CDs out of his car before releasing his first album, 1996’s Reasonable Doubt. The album has gone on to sell more than 1.5 million copies since. In 2008 he married Beyoncé, whose net worth is estimated at $355 million. On his last album, 2017’s 4:44, he rapped: “Ain’t no such thing as an ugly billionaire, I’m cute.”
Jay-Z appears on the front cover of the latest Forbes magazine alongside billionaire Warren Buffet. Speaking about Jay-Z, the elderly billionaire told Forbes in 2010: "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." who is one of the richest men in the world.
Source: Sahara Reporters
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