Key learning points
- Superstar rapper and entrepreneur Jay-Z has a net worth of $2.5 billion as of November 2023Forbes.
- Jay-Z became the first billionaire rapper in 2019 and has amassed his wealth over the years through his music and successful business ventures, such as his beverage brands.
- In 2023, Jay-Z and Beyoncé bought the most expensive home ever sold in California, a 40,000-square-foot estate in Malibu, which they bought for $200 million.
Billionaire rapper, investor and entrepreneur Jay-Z spoke with CBS Mornings co-host Gayle King in a rare interview that aired last week on CBS.
In the hour-long primetime interview, Jay-Z and King tour The Book of HOV exhibit at the Brooklyn Public Library, which celebrates the rapper and his illustrious career.
If there's one thing the billionaire is good at, it's how to spot a good deal. When King asked Jay-Z to settle a social media debate asking fans to choose between taking $500,000 in cash or going out to dinner with him, King responded, "You should take the money... I wouldn't give you saying that you should leave out a bad role.'
As of November 2023, Jay-Z has a net worth of $2.5 billionForbes. Together Jay-Z and his superstar wifeBeyoncehas a total net worth of approximately $3 billion.
The rapper became the first billionaire rapper in 2019 and has amassed his wealth over the years through his music and a series of successful business ventures that have earned him millions.
Here's how hip-hop's first billionaire made his fortune.
music
Jay-Z's rise to fame and fortune began with his successful career as a rapper.
Jay-Z is the first black male artist with ten multi-platinum albums, a certification given to albums that have sold more than two million copies each. The rapper has released 13 solo studio albums and sold a total of approximately 33.5 million copies.
He is the most nominated artist in Grammy history - a title he shares with his wife Beyoncé. The pair each have 88 Grammy nominations.
His music catalog is worth an estimated $75 millionForbes—and he owns the masters and publishing rights to his works.His first album becamereasonable doubt,released in 1996, and his last album,4:44was published in 2017.
In 2017, Jay-Z signed a 10-year, $200 million touring partnership withLiving nation, one of the largest entertainment companies in the world.
Businesses and investments
In addition to his iconic career as an artist, Jay-Z has become known as a top entrepreneur and investor.
His money and investments are worth an estimated $200 million (as of 2019) and include a stake in Uber.The rapper has also founded several companies and drink brands that have made him millions of dollars.
For example, in 2007, Rocawear (a clothing brand co-founded by Jay-Z) was purchased by Iconix Brand Group for more than $204 million in cash, according toNew York Times.At the time, Rocawear was bringing in more than $700 million in annual revenue.
Spirit brands
Lots of celebrities outRyan ReynoldsUnpleasantMatthew McConaugheyhave gotten into the liquor industry and made millions from it, and Jay-Z is no exception.
Jay-Z purchased the premium champagne brand Armand de Brignac in 2014. In 2021, it became a luxury conglomerateLVMHbought a 50% stake in the brand.The brand's Ace of Spades champagne sells for $300 per bottle. bottle. The rapper still owns the remaining 50% of the brand.
Jay-Z also founded his own spirit, luxury cognac D'Usse. According to sources, beverage maker Bacardi bought a majority stake in D'Usse worth $750 million in 2023.Wide fan.
Roc nation
Roc Nation is an entertainment company founded by Jay-Z with a record label, talent management, sports, publishing and distribution. Some of the brand's largest customers in entertainment and sports includeRihanna, Shakira and Kyrie Irving and many others.
Roc Nation has partnered with the NFL since 2019 as the football league's official live music entertainment strategist.In 2022, Jay-Z won an Emmy for his production of the Super Bowl Halftime Show.
Tide
In 2015, Jay-Z bought the music streaming service Tidal for $56 million. Jay Z evendeleted most of his musicfrom the streaming service Spotify and moved it to Tidal with the idea of having exclusive music available on Tidal.
The streaming service marketed itself with better sound quality and better compensation for artists who use the platform to host their music. It received support from artists such as Beyoncé, Kanye West and Calvin Harris.
In 2021, former Twitter CEO Jack Dorsey bought the streaming service (which didn't do as well as expected) for an estimated $297 million.
Art and property
The rapper also owns islands, an expensive art collection and vast properties in New York and Los Angeles.
His art collection is worth an estimated $70 million as of 2019 and includes a piece by Jean-Michael Basquiat that he purchased in 2013 for an estimated $4.5 million.
Jay-Z and Beyoncé also own multi-million dollar properties across the country. In 2023, the couple bought the most expensive home ever sold in California: a 40,000-square-foot estate in Malibu that they bought for $200 million, according toPeople.
Jay-Z also owns properties in East Hampton, New York, and a penthouse in Tribeca.
