Jay-Z named world’s first billionaire rapper by Forbes
Jay-Z may have 99 problems, but being a billionaire ain’t one.
Forbes on Monday crowned the music icon as the first billionaire hip-hop artist in the world after building an empire with his music and investments in real estate, companies such as Uber, art and liquor.
The 49-year-old artist is not only the first rapper to achieve billionaire status, but he’s also only one of a "handful of entertainers" to reach the goal.
"If he’s a billionaire now, imagine what he’s about to be because he’s only just starting," music producer Swizz Beatz told Forbes.
Jay-Z’s assets include a $75 million music catalog, his music-streaming service Tidal that’s worth an estimated $100 million, entertainment company Roc Nation worth $75 million, a $70 million art collection and real estate worth about $50 million.
The rapper also owns 100 percent of Armand de Brignac Champagne, estimated to be worth $310 million, and has a stake in cognac D’Ussé, a joint venture with Bacardi, which amounts to about $100 million.
Jay-Z benefited in investing in companies like Uber, now worth an estimated $70 million. He has a total of $220 million in cash and investments.
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Jay-Z and his wife Beyonce — who Forbes says has an estimated net worth of $350 million from her music, fashion line and endorsements — reached billionaire status as a couple in 2017.