Shawn Carter, American rapper and entrepreneur better known as Jay Z, has become the first hip-hop artist to attain billionaire status, according to a new cover story on Forbes Magazine.
The business mogul, according to Forbes, has amassed a fortune that conservatively totals $1 billion and makes him “one of only a handful of entertainers to become a billionaire and the first hip-hop artist to do so.”
But the rapper’s success lies in the fact that he is not exclusively a musician; his fortune spans various investments and business ventures, including Armand de Brignac Champagne, D’Ussé cognac, and then Tidal, a streaming service.
“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,” Warren Buffet US business magnate and investor, had once said while speaking about the 49-year old rapper.
By perusing Jay Z’ stakes in companies, the renowned US business magazine came up with a conservative estimate of the artiste’s net worth as:
- Armand de Brignac champagne
- Cash & investments, including a stake in Uber worth an estimated $70 million
- D’Ussé cognac
- Tidal streaming service
- Roc Nation
- Music catalog
- Art collection
- Real estate
“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 because he’s only just starting,” Swizz Beatz, producer behind Jay-Z’ biggest hits, was reported to have said.
The rapper earlier broke a record in 2017 for becoming the first rapper to be inducted as a member of the Songwriters Hall of Fame, a body honoring artistes whose work “represents the heritage and legacy of a spectrum of the most beloved songs from the world’s popular music songbook.”
By the way, this is a win for US. I remember when rap was said to be a fad . We are now alongside some of the greatest writers in history.
— Mr. Carter (@S_C_) February 22, 2017
He has also had a stellar career as a music artiste; record producer; and record executive. Jay Z won 22 Grammys, sold over 100 million albums worldwide and played a notable role in social activism among people of colour.
Copyright 2019 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Follow us on twitter @Thecablestyle