Music

99 Problems, Money Ain't One: Rap Mogul Jay-Z Becomes Hip-hop's First Billionaire As Forbes Calculates His Kingdom's Worth

Written By Suchitra Karthikeyan | Mumbai | Published:

Hack:

  • On June 3, Forbes announced that Shawn 'Jay-Z' Carter - the Brooklyn-born artist-turned-entrepreneur's business empire is now worth $1 billion
  • Forbes also added that this made Jay-Z one of only a handful of entertainers to become a billionaire — and the first hip-hop artist to do so

Money has not been one of Jay-Z's '99 problems' for quite a while and now he has cracked into the 'Billion dollar club'.  On June 3, Forbes announced that Shawn 'Jay-Z' Carter - the Brooklyn-born artist-turned-entrepreneur's business empire is now worth $1 billion. 

Forbes also added that this made Jay-Z one of only a handful of entertainers to become a billionaire — and the first hip-hop artist to do so. While in 2017, together he and his wife Beyoncé became a billion-dollar couple, the rapper entered the billion-dollar club with his empire encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber, according to Forbes.

Tracing his journey from Brooklyn's street as a drug dealer to becoming a music legend and now a billionaire, Forbes reports that he has amassed 14 No. 1 albums, 22 Grammy awards and over $500 million in pretax earnings in a decade.

Rihanna Tops Forbes' List To Become World's Richest Female Musician, Overtaking Madonna, Celine Dion, Beyoncé

Talking about Jay-Z's first label company 'Roc-A-Fella' records started in 1996, he built his own brand with the launch his clothing line Rocawear, started in 1999 (sold for $204 million to Iconix in 2007); D’Ussé, a cognac he co-owns with Bacardi; and Tidal, a music-streaming service, according to Forbes.

Warren Buffet who had appeared in Forbes' cover in 2010 had said, “ Jay-Z is teaching in a lot bigger classroom than I’ll ever teach in,” and explained that “for a young person growing up, [Jay-Z] is the guy to learn from.”

Forbes lists the factors which it looked at to calculate the rap mogul's net worth. Here's the list:

  • Armand de Brignac ($310 million) - Champagne bottles worth $300 dollars each sold as 'Ace of Spades'
  • Cash & investments ($220 million) - A vast investment portfolio including stakes in various companies
  • D'Usse ($100 million) - His cognac which is a joint venture with Bacardi
  • Tidal ($100 million) - Jay-Z's relaunched streaming service
  • Roc nation ($75 million) - His wide-ranging entertainment company representing top stars
  • Music Catalogue ($75 million) - His record label
  • Art Collection ($70 million) - Jay'Z wide range of paintings by famous masters including Basquiat
  • Real Estate ($50 million) - Mansions in East Hampton, Bel Air and a penthouse in Tribeca.

WATCH: 'HatSaala' - India's First Rap Song By Transgender Women, Featuring 'jobless Millennial' Rapper RcR 

"But is he truly happy, with all this money and being married to Beyonce?," asks comedian Trevor Noah before adding, "Of course he is happy. He will be happier than you ever will be."

True that.  
 

 

 

Get the latest entertainment news from India & around the world. Now follow your favourite television celebs and telly updates. Republic World is your one-stop destination for trending Bollywood news. Tune in today to stay updated with all the latest news and headlines from the world of entertainment.

DO NOT MISS