When Jay Z said in one of his songs that he is no businessman, he is the business, it should have hit us deep. The man was essentially announcing to the world that he was on a relentless entrepreneurial wave, and boy has it paid off!
Queen Bey’s husband has just made history by becoming history’s first billionaire rapper. Remember when we thought that this accolade would go to P Diddy? Jay Z apparently had other ideas. And truth be told, the man has really earned his fortune.
According to a Forbes report released earlier this month, Jay Z’s net worth now tops $1 billion, albeit conservatively. Let this last part not fool you though. Hitting the $1 billion mark is not child’s play!
Diddy vs. Jay Z
A couple of years ago, Forbes had actually presented P Diddy and Jay Z as having locked horns in the race towards being the first billionaire in hip hop. Back then, Diddy beat Jay Z to top stop on the world’s richest rappers list, with his net worth being a cool $820 million.
Hova wasn’t that far off, all the same, coming in second at $810 million. Next came Dr. Dre at $740 million, then Birdman and Drake at $110 and $90 million respectively.
Come 2019, and Jay Z sits at the throne a rightful hip hop king. Since bursting onto the scene in the 90s, the rapper’s hard work has never been in doubt. For him, it hasn’t always been about the music. His sharp entrepreneurial mind had him broaden his horizons, and see how far he has come.
Launching Roc-A-Fella Records in the mid-1990s was Jay-Z’s first business move, and is served as the perfect foundation for what was to come next. The business seemed to be tied to his music career, as both spheres of his life grew in equal measure. Jay Z was attracting quite the following due to his lyrical prowess, while at the same time receiving recording artists at Roc-A-Fella.
The rapper released his debut album via his own label to positive reception by Jay-Z’s fans. Commercially, Reasonable Doubt performed modestly, but the guy had to start somewhere, right? At its peak, Roc-A-Fella Records released some of the best catchy tunes of the 90s and early 2000s. Kanye West even had his first six albums released by the label!
According to Forbes, much of Jay-Z’s wealth comes from two ventures – Armand de Brignac, the champagne brand that’s worth approximately $310 million and Tidal, the content-sharing online platform estimated to be worth $100 million. The magazine goes on to report that the rapper’s cash investments add up to a whopping $200 million, while his music brings in around $75 million.
You know the famous adage that money can’t buy happiness? Well, Jay Z doesn’t even need to buy it. He is happily married to Beyoncé, and if that isn’t the definition of a power couple, I have no idea what is. Although their union has been through some ups and downs, they always seem to weather the storm. Isn’t that what marriage is all about?