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LeBron James Becomes NBA’s First Active Billionaire Player

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LeBron James and SpringHill Company Teams Up With CNN For Black Wall Street Doc Series

Enters LeBron James into the billionaire club. LeBron James, one of the best basketball players of all time, is officially the first player to earn a billion dollars while actively still playing.

In his playing career, LeBron James has earned $330 million during his career, revealing a whopping additional $700 million has come from partnerships with Nike, Blaze Pizza, PepsiCo, Walmart, and more.

King James is also the first to do so while playing a team sport, bringing him to a table of solo stars like Floyd Mayweather, Tiger Woods, and Roger Federer.

Following LeBron James on the list is Kevin Durant at $580 million and Stephen Curry at $430 million.

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Kanye West Reaches Billionaire Status Due to Yeezy Sneaker Brand

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According to Forbes, Hip-Hop mogul Kanye West’s bank account now has officially nine zeros.

The iconic fashion designer, producer, and rapper provided documentation to the financial publication that proved his status that “confirm, based on our estimates, that his stake in Yeezy indeed makes him a billionaire. A bit over $1 billion, actually.” 

This new financial milestone comes largely in part due to the Yeezy brand, which Yeezy owns 100%. He is still, however, indebted to Adidas for a minimum five-year period as the sneaker giant manufactures, markets, and distributes the revolutionary kicks. The documents also showed that Yeezy netted $1.3 billion in 2019, which West’s agreement with Adidas provides him with 15% royalties on all Yeezy revenue. 

Let’s not leave out his G.O.O.D. Music imprint, which is worth a reported $90 million. Ye’s economic situation now has put him in the company of Jay-Z, Oprah and Bill Gates. Now, you can’t tell him nothin’.

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JAY-Z is Officially Hip-Hop’s First Billionaire

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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.

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Brooklyn Billions: Jay-Z Declared 1st Billionaire Rapper By Forbes

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The Broad Museum Celebrates the Opening of Soul Of A Nation: Art in the Age of Black Power 1963-1983 Art Exhibition - Arrivals

Source: Michael Kovac / Getty

Jay-Z and his steady pivot between an elite-level recording artist to one of the savviest businessmen of his era have been well documented over the past decade and more. In a new piece from Forbes, the veteran Brooklyn wordsmith is in a company of his own after becoming the first rapper to join the billionaires club.

Forbes writes:

Less than a decade later, it’s clear that 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. Jay-Z’s steadily growing kingdom is expansive, encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber.

His journey is all the more impressive given its start: Brooklyn’s notorious Marcy housing projects. He was a drug dealer before becoming a musician, starting his own label, Roc-A-Fella Records, to release his 1996 debut, Reasonable Doubt. Since then he’s amassed 14 No. 1 albums, 22 Grammy awards and over $500 million in pretax earnings in a decade.

Crucially, he realized that he should build his own brands rather than promote someone else’s: the clothing line Rocawear, started in 1999 (sold for $204 million to Iconix in 2007); D’Ussé, a cognac he co-owns with Bacardi; and Tidal, a music-streaming service.

Read the entire profile on Jay-Z’s inspirational climb from Marcy Projects to becoming a billionaire by following this link.

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Photo: Getty

Source: HipHopWired.com

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