Jay-Z is now officially the first rapper to become a billionaire, 9 years after his meeting with billionaire Warren Buffet, from which the octogenarian got quite impressed.
The rapper’s empire is the subject of a new Forbes profile, and the publication notes;
“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.”
They explained how they came to this conclusion, writing, “To calculate his net worth, we looked 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. We checked our numbers with a roster of outside experts to ensure these estimates were fair and conservative.”
Major assets of Jay-Z who officially became the first rapper billionaire include Armand de Brignac champagne ($310 million), cash and 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), and real estate ($50 million).
It was further gathered that the rapper realized that he should build his own brands, rather than promote someone else’s.
