June 3, 2019
Photo by Michael Kovac/Getty Images for Land Rover
Over the last few years, Jay-Z has teetered around the top spot of Forbes’ richest Hip Hop earners, either coming in second to Diddy or out-earning him altogether. Now the Brooklyn multi-hyphenate is the genre’s first Billionaire. Let’s find out exactly how.
After famously buying his Master recordings back from EMI around 2004, the 49-year-old’s music catalog is streamed more than a billion times annually and is worth an estimated $75M.
It’s no secret the MC loves art. Over the last decade, Jay has mentioned his love for Jean-Michael Basquiat in music. His art collection is worth a reported $70M.
In 2004 he purchased a Tribeca penthouse worth $6.5M dollars. In 2017 after the birth of his twins, Rumi and Sir, he and Beyonce bought a pair of homes — an $88M Bel-Air estate and $22M mansion in the Hamptons.
After buying the streaming platform in 2015 and then relaunching it with his celebrity friends in 2016, Tidal is now worth $100M. Additionally, he has a rumored stake in Uber worth $70M. There’s also the life insurance start-up he invested in last summer.
In 2006 Jay introduced the Hip Hop world to Armand de Brignac, a bottle of fancy champagne dubbed ‘Ace of Spades’. According to Forbes, he’s had a “financial interest” in the bubbly for over a decade. He is also the co-owner of D’Usse, a cognac that sells 200K bottles annually.
What was once just a record label in conjunction with Live Nation, has grown into a full entertainment and sports company. The music side boasts artists like J. Cole and Rihanna, while the sports arm is home to Dez Bryant, Kevin Durant, Todd Gurley and more. Combined it is worth $75M.
“Hip Hop has always been aspirational for me,” he said in a 2010 interview with Forbes. But perhaps what’s more impressive are his philanthropic efforts. From the criminal justice reform app, Promise to helping fund Meek Mill‘s release from prison to the online platform that is geared toward helping find black businesses, Jay has equally shown up for us and we couldn’t be prouder of his work! Here’s a look back at Hip Hop’s first billionaire accepting the President’s award at the 2019 NAACP Image Awards.
TELL US: Who did you think would take the top spot?