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    Categories: Daily top 10Entertainmentlife

Jay-Z Became Hip Hop’s First Billionaire By Forbes Magazine


Watch to find out how Jay Z became a billionaire.

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Video credit: Inside Edition

American rapper Jay-Z has become the first hip-hop star to achieve billionaire status.

According to a Forbes report, the rapper’s considerable wealth is credited to a combination of real estate holdings, smart investments, successful companies, and a lucrative music catalog.

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Jay-Z has gathered a fortune that ‘conservatively totals $1 billion,’ the Forbes report noted.

The artist, whose real name is Shawn Corey Carter, owns a clothing line and record label and has made several wise investments in companies like Uber.

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He has also diversified his assets with real estate and art collection.

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According to the financial outlet, he had more than $500 million in pre-tax earnings and has scored 14 No. 1 albums and 22 Grammy awards.

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Forbes has been keeping a track of the artist’s wealth ever since he was featured alongside Warren Buffet on the 2010 cover of the Forbes 400 – which ranked the 400 richest Americans.

The business tycoon said of the rapper: ‘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.’

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In 2018, Jay-Z was ranked fifth in a tie with Kylie Jenner on Forbes’ list of wealthiest stars.

The singer’s stakes in booze brands D’Ussé cognac and Armand de Brignac champagne stand at $100 million and $310 million respectively, according to Forbes.

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He sold his clothing line Rocawear, which he started in 1999, to Iconix in 2007 for a whopping sum of $204 million.

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The outlet writes: ‘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.’

Though Jay-Z possesses sharp business acumen, ‘hip-hop from the beginning has always been aspirational’ for him, he told the magazine.

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According to recent figures, the 49-year-old has companies – including Roc Nation and Tidal – worth $175 million, a music catalog worth $75 million, cash and investments worth $220 million, real estate holdings worth $50 million, and an art collection worth $70 million.

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Speaking of the rapper’s ascension to billionaire status, producer Swizz Beatz told Forbes: ‘It’s bigger than hip-hop… it’s the blueprint for our culture.

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‘A guy that looks like us, sounds like us, loves us, made it to something that we always felt that was above us. If he’s a billionaire now, imagine what he’s about to be.

‘Because he’s only just starting.’

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