Jay-Z is the first billionaire rapper, says forbes

By Candace

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

The article opens by recalling a 2010 meeting between the rapper and billionaire Warren Buffet, from which the octogenarian came away impressed. “Jay is teaching in a lot bigger classroom than I’ll ever teach in,” he said. “For a young person growing up, he’s the guy to learn from.”

Less than 10 years later, the magazine surveys Shawn Carter’s empire — which spans music, a streaming service, liquor, art real estate and stakes in other companies — and determines that it “conservatively totals $1 billion.” It also notes that he built his own brands: the Rocawear clothing line (sold for $204 million in 2007); D’Ussé, a cognac he co-owns with Bacardi; Tidal, the music-streaming service; and his multifaceted Roc Nation music and sports empire. (Read the full report here.)

The artist’s primary holdings follow, which Forbes calculated by “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,” which were then vetted by “a roster of outside experts.”

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

Source: Variety

Thanks for reading from Ghsplash a news publishing website from Ghana. Share this article, For spelling mistakes and other related issues contact us

Copy