Photo Credit: The Come Up Show
It’s official! Jay Z has made history by becoming hip-hop’s first billionaire. This announcement was made by global finance magazine, Forbes on June 3rd, after they calculated his assets and investments, which span across music, real estate, winery and many others.
According to Forbes Magazine, the report also considered “a customary discount to private firms,” and also subtracted a huge chunk of funds which is believed to cover the cost of maintaining the rapper’s “superstar lifestyle.” After making these calculations, the business magazine arrived at the one-billion-dollar finish line.
In 2017 Jay Z prophesied that he would be the first hip-hop artist to become a billionaire. He proclaimed this on Family Feud when he said “Uh, we gon’ reach a billi’ first.” For those who didn’t take that line literally, Jay Z has proven that he meant every word of it.
The 49-years old hip-hop star has over the years invested in several businesses, including Roc Nation, which is worth $57 million, D’Usse cognac worth $100 million, Armand de Brignac champagne worth $310 million and a $75 million music catalog. Others include $70 million in art collections, Tidal streaming service worth $100, $50 million real estate and an estimated $70 million stake in Uber, plus other deals, cash and investments which total $200 million.
Some media reports in 2015 claimed that Dr. Dre first hit this milestone when he sold Beats by Dre to Apple for $3 billion, but Forbes debunked the report, and placed Dr. Dre’s worth at $850 million.
Congratulations to Jay-Z. Now let’s cross our fingers and watch who’d be next to cross this finish line.