American hip-hop artist Jay-Z is rap's first billionaire, according to Forbes.
The rapper, who started off his own label, Roc-A-Fella Records, back in the 90s, has transcended the hip hop model and is now an astute businessman who now owns a sports management company and stakes in several others.
Forbes has taken a look at all of Jay's assets and they're now claiming that he's the very first rapper to reach billionaire status.
"Less than a decade later, it’s clear that Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the first hip-hop artist to do so," Zack O'Malley Greenburg writes.
"Jay-Z's steadily growing kingdom is expansive, encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber."
Jay-Z, whose real name is Shawn Carter, is married to world-famous singer Beyonce, who's worth an estimated $400 million herself - that certainly can't hurt.
Yesterday, @Forbes pronounced Jay-Z a billionaire; today, @Beyonce claimed the No. 51 spot on our list of America's Wealthiest Self-Made Women with a net worth of $400 million. That puts the pair's combined net worth at $1.4 billion: https://t.co/dHPxCARFdq pic.twitter.com/ydLLPtz27N— Zack O’Malley Greenburg (@zogblog) June 4, 2019
The rap mogul either owns or has a stake in the following companies:
- a $70 million stake in Uber
- ownership of the streaming service Tidal
- his $70 million art collection
- ownership of the Roc Nation sports management company
- $50 million in assorted real estate holdings and his music catalog.