Jay-Z Is Hip Hop’s First Billionaire
He don’ reached a billi’ first.
The race to become Hip Hop’s first billionaire has come to an end. Forbes reports Jay-Z has accumulated a fortune totaling $1 billion, the first hip hop artist to do so.
Jay also becomes the fifth African American in the country to reach this milestone (Robert F. Smith, Oprah Winfrey, Michael Jordan, David Stewart) reports Black Enterprises.
From owning masters to his music to countless business investments and partial ownerships, the 49 year-old music mogul’s fortune includes $310 million from Armand de Brignac champagne, $100 million from D’USSE cognac, $100 million from music service TIDAL, $75 million from his music catalog, and $75 million from his Roc Nation company which entails artist management, a sports agency (Roc Nation Sports), and a joint venture with event promoting company, Live Nation.
In addition, Shawn Carter, who sold Rocawear to Iconix for $204 million in 2007, also accrued $220 million in cash and investments that includes a stake in Uber, $70 million from his art collection, and $50 million in owned real estate that includes an East Hampton mansion, a Bel-Air estate and a Tribeca penthouse.
Photo: Craig Barritt
/ You bout to witness somethin like no other.