Jay Z is officially a BILLIONAIRE! Forbes dubs the mogul the first hip-hop star to top 10 figures after starting his own fashion label, investing in liquor, art and Uber and buying homes in LA, the Hamptons and NYC

The Grammy Award winner has made a number of wise financial decisions.Jay Z, 49, owns stock in D’Ussé cognac and Armand de Brignac champagne.He also flaunts a $50 million real estate holding and a $70 million art collection.He owns $220 million in investments and cash, in addition to a $75 million music archive and $175 million worth of businesses in Tidal and Roc Nation.From modest origins in the Brooklyn projects, the former narcotics dealer

The first rapper to become a millionaire was Jay Z.

The mogul’s enormous riches is attributed to a number of prosperous businesses, a lucrative music collection, astute investments, and real estate holdings, per a new Forbes piece published on Monday.

Jay Z, whose real name is Shawn Corey Carter, is one of the few entertainers to acquire such astounding wealth; he has accumulated a fortune that ‘conservatively totals $1 billion’.

In addition to diversifying his fortune with real estate and art, he has launched his own record label and clothing line and made smart investments in businesses like Uber.

Let’s toast to it! According to Forbes, Jay Z is the first hip-hop artist to be recognized as a billionaire, and the designation was given to him on Monday.

According to the magazine, he has earned over $500 million in pre-tax revenues, 22 Grammy awards, and 14 No. 1 albums.

Since the rapper was originally featured alongside Warren Buffet on the 2010 cover of Forbes 400, a list of the 400 richest Americans, the financial publication has been monitoring the rapper’s wealth.

‘Jay is teaching in a far bigger classroom than I’ll ever teach in,’ the American business billionaire remarked of the Grammy-winning rapper.

“He is the person to learn from if you’re a young person growing up.”

In 2018, he and Kylie Jenner shared fifth position on Forbes’ list of the wealthiest celebrities.

Jay Z has made a number of wise economic decisions, such as investing in the upscale cognac and champagne brands D’Ussé and Armand de Brignac, which the outlet values at $310 million and $100 million, respectively.

In 1999, he launched his clothing brand, Rocawear, which he later sold to Iconix for $204 million in 2007.

Jay Z is the first hip-hop musician to become a billionaire, having amassed a fortune that Forbes estimates to be worth $1 billion. He is among the select few entertainers to reach this milestone.

“Hip-hop from its inception has always been aspirational,” he told the magazine.

HOW DID JAY Z MAKE HIS MONEY?

Jay Z, the astute singer who started his own fashion label, made investments in art, booze, and even Uber, as well as some astute real estate purchases in NYC, the Hamptons, and Los Angeles, has been declared the first billionaire hip-hop artist by Forbes.

However, how precisely did the performer become a billionaire?

booze: $410 million

Jay Z holds a 100% share in the upscale champagne company Armand de Brignac and a portion of D’Ussé cognac.

Show Me What You Got, his 2006 music video, featured $300 gold bottles of Armand de Brignac.

Additionally, he collaborated with Bacardi on the D’Ussé cognac brand, which currently sells 200,000 cases and has had annual growth of about 80%.

$70 million for art

According to Forbes, Jay Z possesses a $70 million art collection that includes works of art such as Basquiat’s Mecca.

Picasso Baby is a song in which he raps about his artwork, noting the “Basquiat in my kitchen corner.”

$50 million in real estate

Jay Z owns a $26 million Hamptons estate, a $88 million Bel Air mansion, and a $6.85 million Tribeca apartment in addition to his famous wife Beyoncé.

$250 million for music

Jay Z is reportedly worth $75 million. He runs his own record company, Roc Nation, which represents some of the world’s top performers, like Rihanna.

Along with other well-known investors, he revived Tidal, which is estimated to be valued at $100 million.

The musician is said to have made $75 million from his back library of hits, which receives about 1 billion plays annually.

$220 million in investments, including Uber

Following the acquisition of an Uber ride-sharing interest estimated to be worth $70 million Jay Z is rumored to possess $220 million in cash and assets.

The background: In 2010, Forbes listed Jay Z’s holdings in all forms of real estate, businesses, and investments, with Warren Buffett and him on the cover.

The 49-year-old’s wealth is extensively detailed in the new profile, which totals items like his $70 million art collection, $50 million in real estate holdings, $220 million in cash and investments, $75 million music catalog, and his $175 million companies, Tidal and Roc Nation.

Producer Swizz Beatz told Forbes, “It’s the blueprint for our culture… it’s bigger than hip-hop.” “A guy who resembles us, sounds like us, is in love with us, and achieved something we’ve always felt is beyond us.”

“Imagine what he’s going to be like if he’s already a billionaire.” since he’s just getting started.

Sean ‘Diddy’ Combs and Jay-Z at the Roc Nation Pre-Grammy Brunch

Power couple: In addition to Jay’s ‘conservative’ $1B, his wife Beyonce’s net worth was previously valued at $355 million

Jay-Z has scored 14 No. 1 albums, 22 Grammy awards and more than $500 million in pre-tax earnings, according to the magazine

The Tidal founder’s rise to success is particularly notable considering his not only humble beginnings in the Brooklyn projects, but his transition from working street corners as a low level drug dealer to a Grammy winning megastar.

Forbes noted that early on in his career, Jay Z, who once rapped ‘I’m not a businessman, I’m a business, man,’ showed his business acumen by eschewing traditional endorsement deals that celebrities traditionally favor for riskier choices.

‘Crucially, he realized that he should build his own brands rather than promote someone else’s,’ they wrote.

‘It’s bigger than hip-hop … it’s the blueprint for our culture,’ producer Swizz Beatz told Forbes. ‘A guy that looks like us, sounds like us, loves us, made it to something that we always felt that was above us’ (Swizz pictured with Jay Z in 2014)

In July of last year, superstar duo Beyonce and Jay-Z wrapped up the European leg of their world tour and relaxed on a yacht along the Amalfi Coast.The founder of Tidal’s ascent to fame is especially noteworthy in light of his modest origins in the Brooklyn projects.

Apart from the artist’s substantial personal riches, there’s also Beyoncé’s financial contributions.

The queen’s estimated net worth in 2018 was above $350 million.

In addition to being one of the most sought-after artists of all time, Bey is expanding her acting career and rebranding Ivy Park, the apparel line she founded.

The 37-year-old will play Nala in the upcoming live-action Lion King movie from Disney.

Dr. Dre, a fellow musician, reportedly made $1 billion in 2014 after selling Apple his Beats Music streaming service and headphones.

However, with municipal and state taxes, the sale is believed to have been little less than $1 billion.

Diddy, a fellow rapper, is thought to be worth $825 million.

Forbes claims to have determined Jay-Z’s net worth by ‘applying our customary discount to private corporations’ in addition to examining his stock holdings. Then, according to them, they deducted “a healthy amount to account for a superstar lifestyle” from his total salary.

The outlet claims that it subsequently had outside specialists verify the figures.

The receipts: Jay Z reportedly has a $70 million dollar art collection, $50 million dollar real estate holdinds, $220 million in cash and investments, a music catalog worth $75 million dollars and his companies like Tidal and Roc Nation – which total $175 million