Jay-Z, the rapper, musician and entrepreneur, is now the first hip-hop artist to become a billionaire, according to a Forbes report out Monday.
To calculate Jay-Z’s wealth, Forbes took into account his cash and investments (which reportedly includes a stake in Uber UBER, +2.08% worth $70 million); his champagne Armand de Brignac; the cognac D’Usse (a joint venture with Bacardi, which is mentioned in his songs, as well as “Sorry” by his wife, Beyoncé Knowles-Carter); entertainment company Roc Nation, which represents stars including Rihanna; his music catalogue; a $70 million art collection; and real estate in East Hampton, N.Y., Bel Air, Calif., and the Tribeca neighborhood in New York City.
It also includes the streaming service Tidal, which Forbes reported is worth $100 million.
Before he became a globally known musician, Jay-Z lived in a housing project in Brooklyn, where he became involved in selling drugs, he has said. He wrote rhymes from the time he was a child.
He has rapped about his business aspirations and prowess in songs like “The Story of OJ,” in which he discusses investing in real estate and art.
The calculation of Jay-Z’s wealth does not seem to include that of his wife, Beyoncé, who was No. 3 on Forbes’s highest-paid female musicians list in 2018. That year, she made $60 million.
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