Jay-Z has done it! In 2017, Jay-Z rapped in his song, Family Feud, "We gone reach a billi first!" Well, this morning, it was made official. The rapper has accumulated a net-worth of $1 Billion!!!
This was a long-term goal in the making, which he worked extremely hard for. Jay-Z knew he didn't want to be like other musical artists, earning a fortune, and then blowing it all on senseless items such as jewelry; he wanted to accumulate wealth. This led him to a meeting with arguably the world's greatest investing mind, Mr. Warren Buffet.
The pair met in Omaha, Nebraska, where Warren Buffet lives and conducts business as the CEO of Berkshire Hathaway, a giant holding company. Buffet said of the meeting, "Jay is teaching in a lot bigger classroom than I’ll ever teach in. For a young person growing up, he’s the guy to learn from.” Jay came to the meeting with a plan to become a billionaire stating that hip hop was only aspirational.
Fast-forward 9 years later and the talented rapper has done it. He is the first hip hop artist to accumulate a $1 Billion fortune, with P. Diddy on his heels. He has invested in real estate, art, liquor, and Uber to name a few. The drug dealer turned rapper released his debut album, reasonable Doubt in 1996. From that moment forward, he has earned 14 number 1 albums, 22 Grammys, and reportedly over $500 million in earning this decade.
He got here by realizing he needed to promote his own brands instead of another company's. Brands such as Dusse', Tidal, and Roc-a-wear (which he sold for $204 million) all belong to the rapper turned billion dollar businessman.
His wealth includes:
- $310 million in Armand de Brignac - Ace of Spades Champagne
- $220 million in Cash & Investments
- $100 million in Dusse - Joint ownership with Bacardi
- $100 million in Tidal - Music streaming service
- $75 million in Roc Nation - his entertainment company with Live Nation
- $75 million from his music catalog
- $70 million in artwork
- $50 million in real estate
Jay-Z surely has shown the youth of today and the millennials how to have an "Empire State of Mind"and he is teaching generational wealth in the process. Congratulations are in order for the music mogul and we cannot wait to see how far up he goes up on the billionaire list. The question for the rest of the industry is, "Who got next?"