Jay-Z has “accumulated a fortune that conservatively totals $1 billion,” Forbes reported this week in a cover story, which means Jay-Z is the first hip-hop artist to join the ranks of billionaires.
The rapper has amassed his fortune in real estate, fashion, art, liquor, and investment income, in addition to his work in the world of music. Key to Jay-Z’s success, the report said, has been building his own brands, rather than promoting existing ones.
Forbes figured out Jay-Z’s net worth through its own methodology, which entailed adding up estimated values of his stakes in various companies, plus his income, while also “subtracting a healthy amount to account for a superstar lifestyle.”
Forbes estimated Jay-Z’s stake in Armand de Brignac at $310 million, his cash and investments at $220 million, and his stake in D’Ussé at $100 million. His streaming service Tidal is valued at $100 million, and Roc Nation is at $75 million. That’s in addition to the $75 million value of his music catalog, $70 million for his art collection, and $50 million of his real estate holdings.
This is to say nothing of the wealth of Jay-Z’s wife, Beyonce. As of last December, per Business Insider, Beyonce has a net worth of $335 million, with most of her income coming from touring, recording, and endorsements. The joint net worth of the couple has been over a billion dollars for some time.
— Forbes (@Forbes) June 3, 2019
It has been stated various times over the years that Dr. Dre had become the first hip-hop billionaire, especially after his headphone company, Beats, was sold to Apple for $3 billion in 2014. But, per The Christian Science Monitor, a large tax bill at the time of the Beats sale meant that Dre’s net worth never reached the billion-dollar mark. At that time, Jay-Z and P. Diddy were tied for the title of second-richest rapper.
Beyonce and Jay-Z, per The Hollywood Reporter, went vegan recently, with the help of trainer and nutrition coach Marco Borges. In January, per The Inquisitr, the couple announced that they were challenging their fans to eat more vegan meals, with the chance to win free concert tickets for life.
“Having children has changed our lives more than anything else,” the couple told Time in January. “We used to think of health as a diet — some worked for us, some didn’t. Once we looked at health as the truth, instead of a diet, it became a mission for us to share that truth and lifestyle with as many people as possible.”