JAY-Z Becomes First Billionaire Rap Artist

bacardi, d'usse, forbes, jay z, jay-z, roc nation, roc-a-fella, tidal, uber, armand de brignac, swizz beatz, billionaire, complex

JAY-Z has accumulated a fortune that totals up to $1 billion, however how did he arrive?

According to Forbes, the Brooklyn rap artist cinched the title through financial investments in alcohol, art, property, and shares in growing business like Uber. He’s likewise among just a couple of performers to end up being a billionaire, and the very first rap artist to do so.

His climb from the Marcy Houses in Brooklyn to beginning Roc-A-Fella Records and launching his 1996 launching Reasonable Doubt was no simple task. He’s had a business-oriented mind from the start, releasing Rocawear in 1999 (which he offered in 2007 for $204 million), co-owning D’Ussé with Bacardi, and obtaining and relaunching TIDAL.

Regular partner Swizz Beatz shared how pleased he is with Hov’s organisation acumen and described how he’s a good example for others: “It’s larger than hip-hop … it’s the plan for our culture. A person that appears like us, seems like us, likes us, made it to something that we constantly felt that was above us,” Swizz informed Forbes.

“If he’s a billionaire now, imagine what he’s about to be,” he continued. “Because he’s only just starting.”

Forbes determined that Hov has around $220 million in money and financial investments, that includes an approximated $70 million stake in Uber that he acquired for $2 million in 2013. He’s invested $100 million in D’Ussé and $310 million in his champagne, Armand de Brignac.

When it comes to music business, he has $100 million in TIDAL, which he acquired for $60 million in 2015; $75 million in Roc Nation; and $75 million in his own music catalog. He has $70 million purchased his art collection, that includes Basquiat’s “Capital” that he supposedly acquired for $4.5 million in 2013; and finally, $50 million in property, that includes homes in Tribeca, East Hampton, and Bel Air.

 

*curated complex article

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