Warren Buffett’s 13-year-old Interview With Jay-Z Goes Viral After Rapper’s Net Worth Hits $2.5 Billion

 

13 years ago, Warren Buffett and rapper Jay-Z sat together for an interview at the first Forbes 400 Summit on the veteran investor’s home turf in Omaha, Nebraska, in the U.S.

In that interview, one of the world’s greatest ever investors, Warren Buffett mentioned something about the rapper which has made this old interview viral again.

What Warren Buffett Said About Jay-Z

In response to the question posed by interviewer Steve Forbes, “In fifty years, what words will come to mind when people say Warren Buffett?” Buffett mentioned Berkshire Hathaway. He continued by praising Jay Z’s financial acumen.

According to Buffett, Jay is teaching in a much larger classroom than I will ever have. Someone is going to teach them something. He is the person a young person should look up to as they get older.

It seems that long before the rapper went on to become a millionaire and make millions of dollars, Buffett trusted Jay-Z and his money-making ideas.

Jay-Z’s vast and varied enterprise also allowed him to be named hip-hop’s first billionaire in 2019.According to the most recent estimations from Forbes, his net worth is reportedly $2.5 billion.

During the same 2010 interview, the rapper mentioned that music is similar to stocks. That’s the newest and most popular thing. There’s the hot auto-tune voice, or there’s this hot electro sound, or there’s hot whatever’s hot and fresh. On the basis of that, people frequently make emotional decisions. They don’t adhere to their knowledge—that is, who they are. That’s what I do. They grab hold of the newest trend. It’s not for you, either.

How Jay-Z Is Minting Millions Of Dollars

Just last year, Forbes estimated Jay-Z’s net worth to be $1.4 billion. However, a recent report from the publication states that his wealth has increased recently due to his vast and diverse empire, which includes his entertainment company Roc Nation, the sale of the streaming service Tidal, and investments in businesses like Uber, a move that is largely credited with helping him surpass the $1 billion mark.

In addition to his several investment properties in New York and Los Angeles, he also held shares in Armand de Brignac champagne and D’Usse cognac, which were valued at over $400 million at the time.

According to a Forbes report, “Even in a year without a tour or album release, Jay-Z mints millions from his Armand de Brignac champagne and D’Usse cognac,” adding that his wealth makes him the 1,210th richest person in the world.

According to a Money Control story from the previous year, Jay-Z discussed his business practices on a talk program. “I try to explain to them that it doesn’t work that way, money isn’t just given away, and no one just gives you opportunities,” he stated in reference to family and friends approaching him for business agreements and investments. It’s probably not real if it sounds too wonderful to be true.”

See Also: How Warren Buffett Made Billions in Apple Investments After Losing An iPhone

Trait Jay-Z Shares With Warren Buffett

Like Warren Buffett, Jay-Z prefers to invest in companies that he understands rather than the “next hot thing.” The rapper stated to Forbes in 2010 that “it’s the discipline not to get caught up in the moment.”

People frequently base their emotional decisions on that. They don’t adhere to their core beliefs, such as “This is who I am.” I work in this capacity. They grab hold of the newest trend. Shiny things tend to make people fall in love,” he told the newspaper.