Shawn “Jay-Z” Carter once rapped "I'm not a businessman, I'm a business, man."
It turns out he was right as the race to become the hip-hop’s first billionaire has come to an end as Forbes confirmed today (June 3rd) that the father-of-three has hit the illustrious milestone.
For years, Jay-Z, Sean “Diddy” Combs and Andre “Dr. Dre” Young have traded the top 3 spots on the annual Hip-Hop Cash List by Forbes but Jigga Man was the first to eclipse the Billion mark.
Forbes says his net worth “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.”
According to the publication, his portfolio breaks down as this: Jay's raked in $310 million from his $300 gold bottles of Armand de Brignac champagne (a.k.a. "Ace of Spades.")
His cash and investments total $220 million. (His estimated $70 million stakes in Uber are included in that total) Jay's cognac, D’Ussé, which is a joint venture with Bacardi, has brought him $100 million.
His music streaming service TIDAL has also put $100 million in his pocket.
Then there's the $50 million that he got from real estate investments, the art collection that he rapped about on “The Story of O.J.” is worth $70 million, a music catalog worth $75 million (he owns his own masters), and $75 million from his entertainment company Roc Nation.
“It’s bigger than hip-hop…it’s a blueprint for our culture. A guy that looks like us sounds like us, loves us, made it to something that we always felt that was above us,” Swizz Beatz said of his friend. “If he’s a billionaire now, imagine what he’s about to be, because he’s just starting.”
But, what’s better than one billionaire? Two! Will Beyoncé be joining her husband on this list soon?
Previous story by Martel Sharpe (12/5/2018 at 2:17 am CT):
It’s official! Jay-Z and Beyoncé have grown their empire to a billion dollars.
The superstar couple has always been filthy rich, but now they've reached a new level wealth.
According to Forbes’ list of “America’s Wealthiest Self-Made Women”, Beyoncé has a $350 million. Recently, it was reported that her husband is at $810 million. Together they have a combined net worth of $1.16 billion. Who else would love to see what that much money looks like in person?
Beyoncé is an entertainer who refuses to stop. She’s constantly putting out albums that consecutively hit number one. Her concerts are extremely expensive and always sold out.
Not to mention she’s currently the most popular female vocalist. The only time she ever takes an “L” is to Adele at the Grammys. And that’s more of a compliment than an insult since Adele’s voice alone is amazing.
Most of her money comes from her albums and concerts, however, she’s also worked with Pepsi and appeared in their commercials since 2002. She has made over $400 million off of her fragrances Heat and Pulse. And over ten years ago she came out with her clothing line House of Deréon which was super successful. More recently, she has become a co-owner of the online music streaming service Tidal with many other artists.
On the other hand, Jay-Z has been making great business deals for years. He still co-owns the 40/40 Club in which has expanded beyond NYC. He has a stake in the popular cosmetics company Carol's Daughter. Not to mention he's the founder of Roc Nation.
The only surprise here is why didn’t the couple reach $1 billion years ago? The two seem to be unstoppable together. Let's see how much money they can amass within the next ten years.