Jay Z Emerges as Forbes 1st Hip Hop Billionaire
Music Mogul, Jay–Z is now, according to a new Forbes magazine, making him the first rapper to amass a fortune in the ten-figure range.
“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,” the magazine said.
Forbes breakdown indicated that the rapper’s chief source of wealth is his $300-a-bottle Armand de Brignac champagne brand (at $310 million), but also boasts investments at well over $200 million (including a large stake in Uber).
Forbes says the reason Jay-Z’s wealth went all up on the table is hisnew business interest in alcohol.
His streaming service Tidal allegedly supplies about $100 million of his net worth, just behind his cognac D’Ussé.
Jay-Z, recently gave a specialperformance to celebrate the re-opening of the celebrated NYC venue Webster Hall.
Jay-Z and wife Beyoncé wererecipients of the Vanguard Prize at the GLAAD Awards in March