Jay-Z is doing more than topping billboard charts. The business mogul has reached billionaire status, officially making him the first rapper to do so, according to Forbes.
“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,” Forbes’ Zack O’Malley Greenburg reports.
While it’s unclear when Jay-Z officially achieved ten-figure status, the outlet estimated his billion dollar worth by assessing the various businesses Jay-Z is invested in. They include:
Armand de Brignac | $310 million
Cash & investments |$220 million (of which $70 million includes his stake in Uber)
D’Ussé | $100 million
Tidal | $100 million
Roc Nation |$75 million
Music catalog |$75 million
Art collection |$70 million
Real estate |$50 million
Jay-Z joins Oprah Winfrey, Robert F. Smith, Michael Jordan and David Steward as one of few known Black billionaires in the United States. And, like Smith and Oprah, Jay-Z has used his wealth to impact young people through his foundation, and to advocate on behalf of others through Roc Nation.
Earlier this year he formed a criminal justice reform organization with Meek Mill. Not long after, Jay-Z’s Roc Nation made headlines for hiring an attorney to have charges dismissed against the 6th grader who didn’t stand for the pledge of allegiance.
Jay-Z’s rise and evolution from Brooklyn’s Marcy Projects to partner in love and excellence with Beyonce to the first hip-hop artist to attain billionaire status is beyond inspiring.
As he said in one of his lyrics, “I’m not a businessman, I’m a business, man.”