Entertainment

Jay-Z Officially Becomes A Billionaire (ENTERTAINMENT)

American singer Jay-Z has become the first hip-hop artist to become a billionaire, according to the new cover story in Forbes.

The article opens by recalling a 2010 meeting between the rapper and billionaire Warren Buffet, from which the octogenarian came away impressed.

“Jay is teaching in a lot bigger classroom than I’ll ever teach in,” he said. “For a young person growing up, he’s the guy to learn from.”

Less than 10 years later, the magazine surveys Shawn Carter’s empire, which spans music, a streaming service, liquor, art real estate and stakes in other companies, and determines that it “conservatively totals $1 billion.”

It also notes that he built his own brands: the Rocawear clothing line (sold for $204 million in 2007); D’Ussé, a cognac he co-owns with Bacardi; Tidal, the music-streaming service; and his multifaceted Roc Nation music and sports empire.

The artist’s primary holdings follow, which Forbes calculated by “looking at the artist’s stakes in companies like Armand de Brignac champagne — applying our customary discount to private firms — then added up his income, subtracting a healthy amount to account for a superstar lifestyle,” which were then vetted by “a roster of outside experts.”

Armand de Brignac champagne: $310 million

Cash & investments, including a stake in Uber worth an estimated $70 million, $220 million

D’Ussé cognac: $100 million

Tidal streaming service: $100 million

Roc Nation: $75 million

Music catalog: $75 million

Art collection: $70 million

Real estate: $50 million

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