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Friday May 24, 2024

Jay-Z’s net worth spikes to $2.5 billion

Rapper extraordinaire Jay-Z’s net worth reached $2.5 billion

By Web Desk
March 25, 2023
Jay-Z’s net worth spikes to $2.5 billion
Jay-Z’s net worth spikes to $2.5 billion

Jay-Z’s net worth rose to $2.5 billion, according to a new Forbes report published Friday.

While the report did not offer much detail it observed that the rapper’s fortune reaches far beyond music. Through his business undertakings Jay-Z became the first hip-hop billionaire.

“Even in a year without a tour or album release, Jay-Z mints millions from his Armand de Brignac champagne and D’Usse cognac,” it says.

“The Brooklyn-born rapper was crowned hip-hop’s first billionaire by Forbes in 2019, thanks to a sprawling and diversified empire,” taking not of assets from his Roc Nation entertainment and sports empire to a fine-art collection including works by Jean-Michel Basquiat.

In February, Jay Z performed “God Did” at the Grammy Awards with DJ Khaled, Lil Wayne, Rick Ross, John Legend.

At the time the report was released he resolved a months-long legal battle with Barcardi over his D’ussé Cognac brand that saw the beverage giant acquiring a majority stake reportedly worth about $750 million — which was a key in increasing his net worth.

Jay-Z is the founder of Manhattan-based conglomerate talent and entertainment agency Roc Nation. As CEO of Def Jam Recordings he has been central to the creative and commercial success of artists including Kanye West, Rihanna, and J. Cole.