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