Jay-Z becomes the Fifth Black Billionaire in the US

Shawn “Jay-Z” Carter has won the race to become the first billionaire in hip-hop, beating music moguls Sean P. Diddy Combs and Andre “Dr. Dre” Young to the threshold, according to a new cover story published in Forbes. This also makes Carter just the fifth African American in the country to reach this historic milestone.




Forbes reports that Carter “has accumulated a fortune that conservatively totals $1 billion” thanks to his savvy business acumen and diverse portfolio of lucrative investments, acquisitions, and deals. “Jay-Z’s steadily growing kingdom is expansive, encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber,” it reads.

The publication then explains how they came to this conclusion, listing a breakdown of Carter’s major assets. “To calculate his net worth, we looked at the artist’s stakes in companies like Armand de Brignac champagne—applying our customary discount to private firms—then added up his income, subtracting a healthy amount to account for a superstar lifestyle,” states the report. His assets are as follows:



  • Armand de Brignac champagne – $310 million
  • Cash and investments, including a $70 million stake in Uber – $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

Read more > Originally appeared in Black Enterprise

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