Jay-Z Is The First Rapper To Become A Billionaire
He's got 99 problems but his bank account ain't one.
Cementing he and wife Beyonce's status as Hollywood's ultimate power couple, Jay-Z has hit a major milestone in becoming hip-hop's first billionaire, according to Forbes.
Jay-Z, whose real name is Shawn Carter, not only has a successful rap career under his belt, but also a number of business ventures, art and real estate, with Forbes “conservatively” valuing the 49-year-old's empire at an eye-watering $1bn.
The star's most valuable assets include his $310m ownership of Armand de Brignac champagne, a $100m stake in D’Ussé cognac, his $100m Tidal streaming service, $50m in real estate and a $70m investment in Uber. It's also believed that his music catalogue is worth about $75m.
Kasseem 'Swizz Beatz' Dean, a friend, and producer of some ofJay-Z's biggest hits told Forbes that the rapper's empire is "still growing".
"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," he said, adding, “If he’s a billionaire now, imagine what he’s about to be because he’s only just starting.”
Forbes senior editor and Jay-Z biographer Zack O'Malley Greenburg agreed with Swizz, saying, "Jay-Z's journey is the modern-day embodiment of the American dream. His ascent offers an invaluable blueprint and inspiration to the next generation of entrepreneurs."
Appearing alongside the hip hop mogul for the magazine's cover was fellow investor Warren Buffet, who spoke about the rapper back in 2010, saying, "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."
Jay-Z took out the top spot in hip hop's wealthiest just ahead of P Diddy, who has an estimated net worth of $855 million. This is closely followed by rapper comes Dr Dre, who sold his brand 'Beats by Dre' to Apple for $3 billion in 2014 -- inflating his personal net worth to $850 million.