Jay-Z is already one of the most recognisable names in hip-hop, but now, he’s one of the most recognisable names in finance, reportedly becoming the first-ever billionaire rapper.
Back in July of 1977, New York City suffered through a blackout so severe that songs were written about it. The incident managed to set off a rather historical event, with widespread looting resulting in citizens taking DJ equipment from electronics stores, ultimately kicking off the genre known today as hip-hop.
While a young Shawn Carter was seven years old at the time, he had no idea that – just under 42 years later – he would make himself known as the first-ever billionaire in the world of hip-hop as the great Jay-Z.
Five years ago, reports surfaced that N.W.A. founder Dr Dre was set to become the first hip-hop billionaire, thanks in part to his association with Beats and an upcoming purchase from Apple Music.
While this deal did indeed make him wealthier than P. Diddy, Dre never quite broke through that cash-covered ceiling. Now though, it seems Dr Dre should’ve been watching the throne, with Jay-Z reportedly becoming the first-ever billionaire in the world of hip-hop.
According to a recently-published profile from Forbes, “Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the first hip-hop artist to do so.”
Check out ‘The Story Of O.J.’ by Jay-Z:
Undoubtedly this is a rather impressive feat for an artist who has spoken at length about his time growing up in a New York City housing project, living the hard knock life, and how he managed to set himself up as one of the most impressive artists around today.
Founding Roc-A-Fella Records back in 1995, Jay-Z’s solo albums have sold consistently well, while the rapper would also found a number of different companies, including Rocawear, and Roc Nation, while 2015 saw the rapper take charge of Aspiro and their streaming service Tidal.
According to Forbes, Jay-Z’s business interests are heavily diversified, with $310 million tied up in Armand de Brignac, $220 million in investments that include Uber, and $100 million involved with his D’Ussé venture with Bacardi.
Throw in the fact that Tidal is worth $100 million, Roc Nation and his music catalogue are worth $75 million each, and the fact he has an art collection and real estate portfolio worth $70 million and $50 million, respectively, and it’s clear that Jay-Z is not a businessman, he’s a business, man.