JAY-Z now holds the title of being Hip-Hop’s first billionaire.
A new report from Forbes details Mr. Carter’s fortune, detailing he has risen to the top of the money ladder by investing in real estate, companies, art, liquor, and his successful music career.
Forbes details business moves from HOV to include selling Rocawear clothing for $204 million in 2007, partnering with Bacardi on the co-ownership of D’Usse, owning Armand de Brignac, which is valued at $310 million and an additional $220 million in cash and investments. TIDAL is currently valued at $100 million, Roc Nation and his catalog at $75 million a piece, and more ventures to amass his fortune.
The Forbes report details an encounter with Warren Buffett, in which he details spending time with JAY-Z. “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,” he shared.
You can view the breakdown of Hov’s billi below and check out the full details on Forbes here.
In his recent verse on Meek Mill’s “What’s Free,” Jay-Z declared the brand of his $300 gold bottles of champagne—nicknamed “Ace of Spades”—to be worth “half a b[illion].” We took a slightly more conservative stance at $310 million pic.twitter.com/D5sK1KvgtF
— Forbes (@Forbes) June 3, 2019
Jay-Z’s cognac, a joint venture with beverage giant Bacardi, now moves almost 200,000 cases and has grown nearly 80% in a bright market for dark spirits annually pic.twitter.com/gJX21BW41E
— Forbes (@Forbes) June 3, 2019
Before the beginning of his stint as Def Jam’s chief in 2004, Jay-Z negotiated the eventual return of his master recordings from the record label that helped launch his career. His hits now clock close to 1 billion streams annually pic.twitter.com/O7kFRbHZuT
— Forbes (@Forbes) June 3, 2019
After welcoming twins in 2017, Jay-Z and Beyoncé bought a pair of homes to match: a $26 million East Hampton mansion and a $88 million Bel Air estate. Jay-Z also owns a Tribeca penthouse, snagged for a bargain $6.85 million in 2004 pic.twitter.com/SyyVKatcOz
— Forbes (@Forbes) June 3, 2019
The post JAY-Z is Officially Hip-Hop’s First Billionaire appeared first on The Source.
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