Here's a look inside Jay-Z's billion dollar fortune
What's the story
Jay-Z has proven that, honestly, nobody can knock his hustle. The 49-year-old recently became a billionaire, the world's first hip-hop artist to get to there. Last year, the rapper released the collaborative album 'Everything is Love' with wife Beyoncé which hit Billboard 200 #2 and didn't debut as hard as their other albums. So, how did he get to a billion dollars just now?
Details
Here's the secret behind Jay-Z's enormous wealth
Over his three-decade-long career, Jay-Z erected an empire based on music, fashion, real estate, and investments. Forbes attributes the fortune to the fact that Jay-Z started own brands, instead of endorsing them. He started the clothing line Rocawear in 1999 (sold to Iconicx in 2007 for $204mn), and the cognac D'Ussé with Bacardi. He also owns the music-streaming service Tidal.
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Stakes owned by Jay-Z in various companies
Reportedly, the rapper also owns stakes in various companies such as a 100% stake in Armand de Brignac champagne (worth $310mn), D'Ussé ($100mn), Tidal ($100mn), entertainment company Roc Nation ($75mn), Uber ($70mn), and his music catalogs and art collection amounts to $75mn and $70mn, respectively.
Quote
'It's bigger than hip-hop. It's the blueprint for our culture.'
Speaking about Jay-Z's billionaire status, Kasseem "Swizz Beatz" Dean, told Forbes, "It's bigger than hip-hop ... it's the 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." "If he's a billionaire now, imagine what he's about to be," Swizz Beatz said. "Because he's only just starting."
More moolah
Jay-Z also owns property in East Hampton, Bel-Air and Tribeca
Around $50 million of Jay-Z's fortune can be attributed to real estate. According to Forbes, Jay-Z and Beyoncé bought two homes after the birth of their twins in 2017- an East Hampton mansion ($26mn) and a Bel-Air estate ($88mn). Jay-Z also bought a $6.85mn Tribeca penthouse in 2004. Combined with Beyoncé's net worth, one of America's Wealthiest Self-Made Women, the duo has a $1.4bn fortune.
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But, hey! Wasn't Dr. Dre the first billionaire rapper?
It was earlier believed that American rapper Dr. Dre was the first hip-hop artist to have become a billionaire after he sold his Beats headphone business to Apple in 2014. However, last year, Forbes revealed that the rapper's personal wealth amount to about $770mn.
History
'I'm Not A Businessman. I'm A Business, Man.'
Jay-Z was raised in the Marcy Houses in Brooklyn, New York City, and used to deal drugs to earn money. He started his music career in 1995 with his record label Roc-A-Fella Records and in 1996, released his first studio album Reasonable Doubt. Ever since, he has collected 22 Grammy awards, 14 No.1 albums, and now, a billion dollars.