Jay-Z’s Net Worth Reportedly Soars to $2.5 Billion
Jay-Z’s reign won’t end anytime soon. As of Friday, March 24, the 53-year-old’s net worth has surpassed a whopping $2.5 billion, as reported by Forbes.
Jay Z is currently worth $2.5 billion according to Forbes. His net worth has more than doubled in 4 years. In 2019, he is the first Billionaire of Hip Hop! “Dinner with Jay z or $500K ” pic.twitter.com/bouwldKuYc
— Black Millionaire ® (@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 richest person “in the world today”. Carter’s net worth surpasses that of his rap peers.
The newspaper notes that even without “touring or releasing an album,” Jay-Z pocketed millions of dollars from his Armand de Brignac champagne and D’Usse cognac brand.
Just last year, Forbes reported the rapper’s net worth at $1.4 billion. According to Variety, the significant increase in value can be attributed to the “resolved months-long legal battle with Barcardi over his trademark D’ussé Cognac”. Barcadi is said to have acquired a majority stake in the brand, which the outlet notes is reported to be “worth around $750 million.” This may have been the “key factor” in raising the rapper’s net worth to what it is today.
Despite being acquired by Bacardi, the outlet also reports that Jay-Z retains a “significant ownership stake” in the D’usse Cognac brand.
Jay-Z’s net worth has skyrocketed to $2.5 billion, according to a new Forbes report published on Friday.https://t.co/qb8cMTBIHw
– Variety (@Variety) March 24, 2023
Jay-Z’s net worth has skyrocketed in just 4 years
In 2020, Forbes reports Jay-Z’s net worth at $1 billion. In 2019, the rapper was just crowned “hip-hop’s first billionaire”.
Forbes credits the rapper’s achievements to his “large and diverse empire”. This reportedly includes properties like his Roc Nation entertainment company. As well as his fine art collection, which includes rare works by artist Jean-Michel Basquiat.
Jay-Z x Beyoncé for Tiffany & Co.
Artwork: The Unseen 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 wealth.
“Armand de Brignac Champagne: $310 million, Cash and investments, including stake in Uber estimated at $70 million: $220 million, D’Ussé cognac: $100 million , Tidal Streaming Service: $100 million, Roc Nation: $75 million, Music Category: $75 million, Art Collections: $70 million, Real Estate: $50 million.”
In 2021, the rapper sold most of his status in the music streaming service Tidal for $302 million to Twitter co-founder Jack Dorsey, according to The Shade Room. He then continued by selling half of his Armand de Brignac champagne brand to LVMH, whose CEO currently holds the No. 1 spot on the billionaires list, for an additional $640 million, according to The Shade. Room.
Longtime billionaire Warren Buffett once praised Jay-Z as “a guy worth learning”
Diversity also shared details of a 2010 meeting between Carter and longtime billionaire Warren Buffett. Buffett, 92, is often hailed as “one of the most successful investors of all time,” according to Forbes.
At this meeting, however, Buffett had some kind words for Carter.
“Jay is teaching in a much larger class than I used to teach. For a young person growing up, he is someone worth learning from.”
Roommate, are you happy to hear about Jay-Z’s latest achievement?