JAY-Z Becomes Hip-Hop’s First Billionaire
American hip hop star, Shawn Corey Carter, popularly known as Jay-Z has reportedly left the millionaires club as he is now a billionaire.
According to the latest rankings by Forbes, Jay-Z became a billionaire with his estimated wealth climbing the $1B making him the first hip-hop artist to attain such a position.
According to Variety, the artist’s primary holdings follow, which Forbes calculated by “looking at the artist’s stakes in companies like Armand de Brignac champagne applying our customary discount to private firms then added up his income, subtracting a healthy amount to account for a superstar lifestyle,” which were then vetted by “a roster of outside experts.”
Armand de Brignac champagne: $310 million, Cash & investments, including a stake in Uber worth an estimated $70 million, $220 million. D’Ussé cognac: $100 million, Tidal streaming service: $100 million, Roc Nation: $75 million, Music catalog: $75 million, Art collection: $70 million and his Real estate business which is worth $50 million.
Recall in 2018, Jay-Z overtook P.Diddy to become the wealthiest person in hip-hop.