Jay-Z Becomes First Hip-Hop Artist To Become A Billionaire

Jay-ZPhoto Credit: Instagram: @beyonce

According to ForbesJay-Z aka Shawn Corey Carter, has officially become a billionaire—even more noteworthy, he’s become the world’s first hip-hop artist to become a billionaire. According to the publication, Jay-Z has accumulated a fortune that conservatively totals $1 billion as he grows his empire in the liquor, art, music and real estate industries.

The rapper, who’s married to music icon Beyoncé, has had a long-ranging history in the music industry. He first founded the record label, Roc-A-Fella Records, in 1995. He boasts 14 No. 1 albums and 22 Grammy Awards. In 1995, he launched his clothing line, Rocawear, followed by launching his first luxury sports bar chain, 40/40 Club, in 2003. He eventually was able to debut his own entertainment company, Roc Nation, in 2008, and impressively acquired tech company Aspiro to launch his own media streaming service, Tidal. This was a huge move for the Carter’s, as it catapulted them to become the third-largest media streaming company in the world. He also co-owns D’Ussé Cognac with liquor giant Bacardi. To this day, he’s considered to be one of the greatest rappers of all time. Now, he can add billionaire to his lengthy list of accomplishments.

Forbes broke down what Jay-Z is worth, taking into account the following factors: Liquor—Armand de Brignac $310 million & D’Ussé ($100 million); Cash & Investments: $220 million (including a large stake in Uber); Tidal – $100 million; Roc Nation – $75 million; Music Catalog – $75 million; Art Collection (including a significant Basquiat collection) – $70 million; and Real Estate – (with homes in East Hampton, Bel Air and Tribeca) worth $50 million.

Not only is Jay-Z considered a music and business icon, but he’s also a cultural icon and figure of inspiration. Former cover star Swizz Beatz commented to Forbes in the article saying, “It’s bigger than hip-hop—it’s the blueprint for our culture. A guy that looks like us, sounds like us, loves us, made it to something that we always felt was above us . . . . If he’s a billionaire now, imagine what he’s about to be . . . because he’s only just starting.”

Jay-ZPhoto Credit: Shutterstock