Forbes Names Jay-Z Hip-Hop’s First Billionaire
American rapper, Jay-Z, has become the first hip-hop artist to reach the billionaire status, according to the new cover story in Forbes.
The article talked about a 2010 meeting between the rapper and billionaire Warren Buffet, from which the octogenarian came away impressed.
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 realized that he should build his own brands rather than promote someone else’s. .
Jay-Z’s primary holdings are:
Armand de Brignac champagne (Ace of Spades)
Cash & investments (including a stake in Uber, worth an estimated $70 million)
Tidal streaming service