Jay-Z might not drop albums at the rate he did during his rise into becoming Hip-Hop’s first billionaire, but he continues to dazzle in a similar fashion within the business world. After securing two recent deals, the Brooklyn rapper turned mogul saw his net worth jump 40 percent according to a new tally.
Forbes examined the recent deals Jay-Z just finalized, which include a 50 percent sale of his Armand de Brignac champagne brand to LVMH, and Jack Dorsey’s Square outfit buying a majority stake of the TIDAL music and content service. The two deals, according to the publication, put the artist born Shawn Carter’s fortune at $1.4 billion.
Among Jay-Z’s many holdings, he still retains 50 percent of the so-called “Ace Of Spades” bubbly, is one of the co-founders of the high-end cognac brand D’Usse, and has investment holdings sprinkled throughout various businesses including the Sweetgreen fast-casual salad chain.
Forbes broke down Jay-Z’s network by looking at his assets and earnings, focusing on his investment stakes in Uber, Square, insurance startup Ethos, and SpaceX among others. Oatly, an oat milk producer, is also among his other investments that look to pay off handsomely in the future.
The publication calculated that the Armand de Brignac brand was worth about $640 million, thus the 50 percent sale made Jay-Z $320 million dollars richer. Roc Nation is another one of Hov’s thriving businesses with a value of $140 million. The multi-tiered entertainment and management company has a partnership with Live Nation that has paid dividends despite the slowing down of live performances over the past year.
Salute to Jay-Z for continuing to shine just as brightly as a businessman as he’s also proven as one of Hip-Hop’s greatest artists.
Hip-Hop’s 1st Billionaire Jay-Z Sees Fortune Jump Up 40 Percent was originally published on hiphopwired.com