MONEY MAN: Jay Z becomes Fifth Black Billionaire in US

HOLLYWOOD, CALIFORNIA - MARCH 30: Jay-Z accepts the President’s Award onstage at the 50th NAACP Image Awards at Dolby Theatre on March 30, 2019 in Hollywood, California. (Photo by Earl Gibson III/Getty Images for NAACP)

Shawn Carter, better known as Jay Z, has become the fifth Black Billionaire in the US. However, he is the first billionaire in hip-pop, surpassing P. Diddy and Dr. Dre, according to Forbes.

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According to Forbes, Jigga, as he is passionately called, has accumulated a fortune which totals $1 Billion through his savvy businesses and diverse portfolio of lucrative investments, acquisitions and deals.

The publication then explains how they came to this conclusion, listing a breakdown of Carter’s major assets.

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“To calculate his net worth, we looked at the artiste’s stakes in companies like Armand de Brignac champagne – applying our customary discount to private firm – then added up his income, subtracting a healthy amount to account for a superstar lifestyle,” states the report. His assets are as follows:

  • Armand de Brignac champagne – $310 million.
  • Cash and investments, including a $70 million stake in Uber – $220 million.
  • D’Ussé cognac – $100 million.
  • Tidal streaming service – $100 million.
  • Roc Nation – $75 million.
  • Music catalog – $75 million.
  • Art collection – $70 million.
  • Real estate – $50 million.

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