Jay-Z’s reign is not letting up anytime soon. As of Friday, March 24, the 53-year-old’s net worth passed a whopping $2.5 billion, as reported by Forbes.
Jay Z is now worth $2.5 Billion according to Forbes. His Net-worth has more than doubled in 4 years. In 2019 he was Hip Hop’s 1st Billionaire! “Dinner with Jay z or $500K ” pic.twitter.com/bouwldKuYc
— Black Millionaires ® (@Blackmillions_) March 24, 2023
Jay-Z’s Billionaire Status Reaches New Heights
According to Forbes, Jay-Z, born Shawn Carter is ranked as the 1,208th wealthiest person “in the World today.” Carter’s net worth outweighs his rap peers.
The outlet notes that even “without a tour or album release,” Jay-Z has pocketed millions from his Armand de Brignac champagne and D’Usse cognac brands.
Just last year, Forbes reported the rapper’s net worth to be $1.4 billion. According to Variety, the significant boost in the value could be due to the resolution of a “months-long legal battle with Barcardi over his D’ussé Cognac brand.” Barcadi reportedly acquired a majority stake in the brand, which the outlet notes was reportedly “worth about $750 million.” This may have been the “key factor” in boosting the rapper’s net worth to its present-day value.
Despite the acquisition by Bacardi, the outlet also reported that Jay-Z retained a “significant ownership stake” in the D’usse Cognac brand.
Jay-Z’s net worth has soared to $2.5 billion, according to a new Forbes report published Friday.https://t.co/qb8cMTBIHw
— Variety (@Variety) March 24, 2023
Jay-Z’s Net Worth Has Seen A Sharp Increase In Just 4 Years
In 2020, Forbes reported Jay-Z’s net worth as $1 billion. In 2019, the rapper had just been “crowned hip-hop’s first billionaire.”
Forbes credited the rapper’s accomplishment to his “sprawling and diversified empire.” This reportedly included assets such as his entertainment company Roc Nation. As well as his fine art collection which features rare creations by artist Jean-Michel Basquiat.
Jay-Z x Beyoncé for Tiffany & Co.
Artwork: Never-before-seen painting by Jean-Michel Basquiat. Credit: Mason Poole. pic.twitter.com/m3rhLKptKP
— TheHipHopGuru (@thhguru_) August 23, 2021
At the time, Variety also published a breakdown of the 53-year-old’s assets.
“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.”
In 2021, the rapper sold his majority state in the music streaming service Tidal for $302 million to Twitter co-founder Jack Dorsey, per The Shade Room. Then he followed up by selling half of his Armand de Brignac champagne brand to LVMH, whose CEO currently holds the #1 spot on the billionaire list, for an additional $640 million, as per The Shade Room.
Longtime Billionaire Warren Buffett Previously Praised Jay-Z For As “The Guy To Learn From”
Variety also shared the details regarding a 2010 meeting between Carter and longtime billionaire Warren Buffett. Buffett, 92, is often praised for his extensive work as “one of the most successful investors of all time,” as per Forbes.
However, at this meeting, Buffett had words of praise 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.”
Roommates, are you happy to see hear about Jay-Z’s latest accomplishment?
Originally published at theshaderoom.com