Hip-Hop legend Jay-Z is the first billionaire artist of his genre, according to Forbes magazine. The artist, whose real name is Shawn Carter, has accumulated an empire worth $1 billion through his music, art collection, a sports management company and shares in real estate and companies. Originally from Brooklyn, Jay-Z grew up in one of the most criminally charged areas in New York and built himself a career that led to superstardom. He became a household name with his debut album Reasonable Doubt in 1996. According to reports, his 2001 album The Blueprint was added to the Library of Congress' National Recording Registry, as it was "culturally, historically, or aesthetically significant". Jay Z is the husband of Beyonce Knowles, a superstar who herself is worth $335 million. The couple together reached the billionaire status in 2017. Jay Z and Beyonce have proved to be an iconic couple ever since their song Bonnie and Clyde dropped. The couple released their first album together as The Carters, called Everything is Love in June 2018.
According to Forbes, the singer has reached the status of a billionaire not because he endorsed brands but because he built them. Among the singer's assets are -
- A $75m music catalogue
- Stakes in Armand de Brignac champagne and D'Usse cognac, worth $410m in total
- A stake in Uber worth about $70m
- Property in fashionable parts of New York and Los Angeles
- A $100m stake in the music streaming service Tidal
- An art collection valued about $50m
Forbes magazine has also refuted the claims that Dr. Dre another Hip-Hop legend is a billionaire. Dr. Dre claimed that he was a billionaire when he sold his Beats headphone business to Apple. However, Forbes listed his wealth to be worthy of $770 million.
Jay Z, who in the past has rapped the verse, "I'm not a businessman, I'm a business, man" has found it coming true in a historical extent. There are only a handful of entertainers who have managed to reach the $1 billion mark. They include Star Wars creator George Lucas, film-maker Steven Spielberg, Oprah Winfrey and basketball star Michael Jordan. Read More