Hip Hop artist and business Mogul Jay-Z has been named world’s first billionaire rapper by Forbes magazine
All Ye Hova fans, husband to the most gorgeous celebrity of the 21st century Beyonce has been named the world’s first hip hop musician to hit the billionaire status. Jay-Z over the past years has not only been a hip hop artist but also a music businessman, no wonder in one of his track he said I’m not a businessman, I’m a business, man. and he has lived to that title.
Jay-Z has been named a billionaire according to the latest ranking by Forbes, his estimated wealth climbs the $1b mark, making him the first hip hop artist to ever reach this status.
Forbes estimated his investment into his cash and investments (which reportedly includes a stake in Uber worth $70 million); his champagne Armand de Brignac; the cognac D’Usse worth $310 million (a joint venture with Bacardi, which is mentioned in his songs, as well as “Sorry” by his wife, Beyoncé Knowles-Carter); entertainment company Roc Nation, which represents stars including Rihanna; his music catalogue; a $70 million art collection; and real estate in East Hampton, N.Y., Bel Air, Calif., and the Tribeca neighborhood in New York City which is worth $50 million It also includes the streaming service Tidal, which Forbes reported is worth $100 million.
The artist overtook P.diddy as the number one richest hip hop artist in 2018, due to his investments in alcohol. He bought a stake in Armand de Brignac and D’Ussé cognac which increased his net worth.