Among new reports from Forbes and others, Jay Z is now officially a Billionaire. Born Shawn Carter, Jay Z now 49 years old, has accomplished this feat from starting with nothing in the Brooklyn projects.
He was a drug dealer, and then started his own record label in 1996 known as Roc-A-Fella records. That’s the part you probably know…. How he got to 10 digits was from a slew of investments in liquor, real estate and art – and of course music.
Here’s how he did it:
Armand de Brignac – $310 Million
Jay Z used his music videos to promote the ‘Ace of Spades’ champagne gold bottles since 2006 when he got into the company.
Cash & Investments- $220 Million
Jay Z’s biggest and most lucrative stock investment was in Uber back in 2013, when he purchased his piece of the company for $2M. Today it’s worth over $70M.
D’Usse – $100M
This is Jay Z’s joint venture with Bacardi around an ultra premium cognac called D’Usse. It reportedly sells over 200,000 cases a year and is growing over 80% each year.
Tidal – $100M
Jay Z bought his music streaming service called Tidal, from it’s Scandanvaian holding company for 60M. He recruited wife Beyonce, Kanye and Calvin Harris to invest as well.
Roc Nation – $75M
His entertainment company has a joint venture with Live Nation that throws massive concerts. Also, Roc Nation handles sports management (Kevin Durant, Todd Gurley) and the record arm of it has J Cole and Rihanna.
Music Catalog – $75M
Jay Z bought back all of his publishing rights from Def Jam, making him the owner of his masters, which his catalog has around 1 Billion streams annually.
Art Catalog – $70M
Jay raps about his art collection a ton. He’s a big fan of the late contemporary abstract artist Michael Jean Basquiat, where he bought his “Mecca” piece (above) for over $4.5M.
Real Estate – $50M
Jay Z owns homes in East Hampton NY, Bel Air, and Tribeca NYC. And these are just the places we know about…