Jay-Z is not about to end anytime soon. According to Forbes, the 53-year-net old’s worth has surpassed $2.5 billion as of Friday, March 24.
Jay-Z, born Shawn Carter, is the 1,208th wealthiest person “in the world today,” according to Forbes. Carter’s net fortune dwarfs those of his rap contemporaries.
According to the publication, even without a tour or album release, Jay-Z has made millions from his Armand de Brignac champagne and D’Usse cognac businesses.
According to Forbes, the rapper’s net worth is $1.4 billion as of last year. Variety reports that the huge increase in value may be related to the end of a “months-long legal battle with Barcardi over his D’ussé Cognac brand.” According to the site, Barcadi purchased a controlling interest in the brand, which was “worth about $750 million.” This might have been the “key factor” in increasing the rapper’s net worth to its current level.
Despite the Bacardi takeover, the publication said that Jay-Z kept a “significant ownership stake” in the D’usse Cognac brand.
Jay-net Z’s worth was estimated to be $1 billion by Forbes in 2020. In 2019, the rapper was dubbed “hip-first hop’s billionaire.”
Forbes attributed the rapper’s success to his “sprawling and diverse empire.” This reportedly includes his entertainment firm, Roc Nation. In addition to his fine art collection, it includes rare works by artist Jean-Michel Basquiat.
Variety also provided a breakdown of the 53-year-assets old’s at the time.
“Armand de Brignac champagne: $310 million, Cash & investments, including a stake in Uber worth an estimated $70 million: $220 million, D’Ussé cognac: $100 million, Tidal streaming service: $100 million, Roc Nation: $75 million, Music catalog: $75 million, Art collection: $70 million, Real estate: $50 million.”
According to The Shade Room, the rapper will sell his majority stake in the music streaming service Tidal to Twitter co-founder Jack Dorsey for $302 million in 2021. According to The Shade Room, he then sold half of his Armand de Brignac champagne business to LVMH, whose CEO presently occupies the top place on the billionaire list, for an extra $640 million.
Warren Buffett, a long-time billionaire, had praised Jay-Z as “the guy to learn from.”
Variety also revealed facts about Carter’s 2010 encounter with longstanding billionaire Warren Buffett. Buffett, 92, is widely regarded as “one of the most successful investors of all time,” according to Forbes.
Buffett, on the other hand, had words of admiration for Carter.
“Jay is teaching in a lot bigger classroom than I’ll ever teach in. For a young person growing up, he’s the guy to learn from.”
Main Image: Jay-Z| GETTY IMAGES FOR ROC NATION
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