American Music Mogul, Jay–Z has become the first hip-hop billionaire according to Forbes magazine.
“Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the first hip-hop artist to do so,” the magazine said via their twitter handle.
Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the 1st hip-hop artist to do so https://t.co/Z4aDsfMQZM pic.twitter.com/eJPuUfPxrm
— Forbes (@Forbes) June 3, 2019
Forbes breakdown indicated that the rapper’s chief source of wealth is his $300-a-bottle Armand de Brignac champagne brand (at $310 million), but also boasts investments at well over $200 million (including a large stake in Uber).
Forbes says the reason Jay-Z’s wealth went all up on the table is his new business interest in alcohol.
His streaming service Tidal allegedly supplies about $100 million of his net worth, just behind his cognac D’Ussé.
Jay-Z, recently gave a special performance to celebrate the re-opening of the celebrated NYC venue Webster Hall.
He and wife Beyoncé were recipients of the Vanguard Prize at the GLAAD Awards in March.