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.
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.
“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.