Yahoo Finance Hip-hop’s first BILLIONAIRE: 7 ways Jay-Z built his empire
From housing projects in Brooklyn to founding a record label, Roc-A-Fella Records, and becoming a hip-hop mogul, Jay-Z has had an impressive journey.
Since his 1996 debut, he’s made 14 number one albums, received 22 Grammy awards and banked over US$500 million (AU$717 million) in pretax earnings in a decade, according to Forbes.
And, now, Forbes has calculated Jay-Z’s worth to be a whopping US$1 billion (AU$1.4 billion)
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While Jay-Z’s music has contributed to his fortune, his empire stands atop investments from brands and artwork to real estate.
Here’s a breakdown of the seven ways be built his empire:
Armand de Brignac (Ace of Spades) champagne
Jay-Z’s champagne investment is worth a whopping US$310 million.
The first batch of Armand de Brignac champagne was out for dispatch in 2006, and later that year, Jay-Z promoted the bottles in his Show Me What You Got video.
While some outlets incorrectly reported the rapper bought the company in 2014, Forbes reported the rapper had a financial interest in the brand since its inception.
Colloquially known as ‘Ace of Spades’ for the gold logo, each bottle costs around US$300. A 30-litre bottle, which is the equivalent of 40 regular bottles, can sell for over US$200,000.
D’Ussé cognac
The rapper’s cognac investment is worth a huge US$220 million.
D’Ussé, which is a joint venture with Bacardi, has grown around 80 per cent annually, according to Forbes, and moves almost 200,000 cases.
Tidal streaming
Tidal brings US$100 million to Jay-Z’s portfolio.
In 2015, Jay-Z submitted a bid to purchase the music, video and podcast streaming service, Tidal’s, parent company, Aspiro, for just under US$60 million.
Later that year, he relaunched the brand in partnership with celebrities like his wife, Beyoncé, as well as Kanye West and Calvin Harris.
Roc Nation
Founded in 2008 by Jay-Z, entertainment label, Roc Nation, is worth around US$75 million.
It started as part of a joint venture with Live Nation, and represents top stars across sporting and music, including Rihanna.
Music
Jay-Z’s music catalog is worth a whopping US$75 million.
In 2004, he negotiated to regain his publishing rights and now sees his hits clock almost one billion streams annually.
Art collection
Jay-Z has an impressive art collection worth around US$70 million.
In 2013, he purchased Basquiat’s “Mecca” for a reported US$4.5 million, and rapped about it in his song Picasso Baby.
Real estate
The rapper’s property portfolio is worth an eye-watering US$50 million.
After the birth of their twins in 2017, Jay-Z and wife, Beyoncé, bought a US$26 million East Hampton mansion and a US$88 million Bel Air residence.
He also owns a penthouse in Tribeca, which he bought for US$6.85 million in 2004.
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