Rap icon, Jay-Z has officially become a billionaire, making him the first hip-hop artist to amass a fortune in the ten-figure range, according to Forbes.
The Forbes piece, which begins with an account of a formative meeting between Jay-Z and Warren Buffett in 2010, claims that “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.”
According to the breakdown in the piece, the rapper’s chief source of wealth is his $300-a-bottle Armand de Brignac champagne brand (at $310 million), but also boasts investments at well over $200 million (including a large stake in Uber). His streaming service Tidal allegedly supplies about $100 million of his net worth, just behind his cognac D’Ussé.
Earlier this year, Jay-Z gave a special performance to celebrate the re-opening of the celebrated NYC venue Webster Hall. He and Beyoncé were the recipients of the Vanguard prize at the GLAAD Awards in March.
It would be recalled that back in 2018, Jay-Z overtook P.Diddy to become the wealthiest person in hip-hop.
Forbes calculated Jay-Z’s worth as follows:
- Armand de Brignac – $310 million
- Cash & investments – $220 million
- D’Ussé – $100 million
- Tidal – $100 million
- Roc Nation – $75 million
- Music catalog – $75 million
- Art collection – $70 million
- Real estate – $50 million
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