Forbes has declared Jay-Z to be officially the first Hip-hop billionaire. As per the calculations, the rapper’s total wealth equals $1bn (£800m). The wealth was calculated considering his lifestyle and subtracting a hefty amount for it.
Jay-Z, originally known as Shawn Corey Carter, is a renowned American rapper, songwriter, and producer. Married to popular American singer Beyonce, the 47-year-old rapper has emerged as one of the successful entrepreneurs, building his own empire based on music, property, fashion, and investments. According to him, his brands are an extension of himself, adding an emotional touch to it.
Born and raised in New York City, Jay-Z started his musical career in 1995, hitting fame with his debut album “Reasonable Doubt” in 1996. Since then almost all of his works have gained huge commercial success, making him the center of modern musical classics. People started considering his albums as best and he significantly became a global figure.
Other than music, Jay-Z’s real path towards business started in 1999, with Rocawear, known for urban clothing, as he later on extended his work by founding a sports bar chain in 2003, initially in the City, and expanding it later to the Atlantic City and Chicago.
As per the ranks given by Billboard and Rolling Stone, Jay-Z’s popularity comes under one of the 100 greatest artists. The rapper has also won 22 Grammy Awards for his works as of now. He owns a $75m music catalogue, $410m total stakes in Armand de Brignac champagne and D’Usse cognac, $70m worth share in Uber, property in fashionable parts of New York and Los Angeles, $100m stake in the music streaming service Tidal, and an art collection valued about $50m. Furthermore, Jay-Z along with his superstar wife has had a joint net worth over $1bn from many years. Since his marriage, the rapper has gained great media attention as one of the best music artists of all the time. It is believed that the rapper’s success has been bigger than the other hip-hop artists in the industry, as the legendary superstar is a source of inspiration for his fellow musicians and fans.