written by Edem
It’s official! Ace American Hip-Hop icon, Shawn Corey Carter stage name Jay-Z or better still Jiggaโs net worth has gone like a bat out of hell to $2.5 billion, according to aย new Forbes reportย published Friday, March 24.
While the report is thin on details, it points out that the fortune of the Roc Nation Record label bankroller who was 53 years ago reaches far beyond music.
Last month, Hov not only performed โGod Didโ at the Grammy Awards with DJ Khaled, Lil Wayne, Rick Ross, John Legend, and Fridayy, he settled a months-long legal battle with Barcardi over his Dโussรฉ Cognac brand that saw the beverage giant acquiring a majority stake reportedly worth about $750 million โ which was a key factor in boosting his net worth โ while Jay retains a โsignificant ownership stake,โ according to a press release.
โEven in a year without a tour or album release, Jay-Z mints millions from his Armand de Brignac champagne and DโUsse cognac,โ it says.
โThe Brooklyn-born rapper was crowned hip-hopโs first billionaire by Forbes in 2019, thanks to a sprawling and diversified empire,โ pointing out assets from his Roc Nation entertainment and sports empire to a fine-art collection including works by Jean-Michel Basquiat.
Around 2019, when Forbes first proclaimed the Blueprint rapper a billionaire, his investments were outlined thus:
โ Armand de Brignac champagne: $310 million
Cash & investments, including a stake in โ Uber worth an estimated $70 million: $220 million
โ DโUssรฉ cognac: $100 million
โ Tidal streaming service: $100 million
โ Roc Nation: $75 million
โ Music catalog: $75 million
โ Art collection: $70 million
โ Real estate: $50 million
Meanwhile, that total had ascended to $1.5 billion last fall, according to a list compiled by former Forbes editor Zack OโMalley Greenburg.
Writer’s Email: edemlatsu093@gmail.com