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Thursday, 6 June 2019

JAY Z'S ROAD TO BECOME A BILLIONAIRE



Rappers have always been “singers” of truth. Little wonder when Jay-Z rapped in one of his songs that “I’m not a businessman, I’m a business, man”, one could not but believe it. His growing business empire was just beginning to expand exponentially at the time.
The Brooklyn-born rapper is many things wrapped into one. We all know Jay-Z as the music mogul. But beyond that, he is also a trendsetter, an accomplished businessman and now, a Forbes-certified billionaire.
According to Forbes, Jay-Z’s net worth is now worth $1 billion. This has made him one of the only few entertainers to become one. He is also “the first hip-hop artist to do so.”
How did he accomplish this? The 49-year-old became a household name 23 years ago, when his debut album ‘Reasonable Doubt’ was released on his independent label, Roc-A-Fella Records.
Since then, the talented musician who has rapped about his rise from Brooklyn (where he hailed from) to corporate boardrooms around the globe. Apparently, he successfully expanded his empire outside music a continuum.
His Businesses: Three years after releasing his debut album, Jay launched a clothing line called  ‘Rocawear’. This was later sold for $204 million to apparel company Iconix in 2007. Meanwhile, earlier in the year 2000, the rapper launched Roc Nation which, according to Forbes, is now worth an estimated $75 million.
Five years after launching Roc Nation, Jay submitted a bid to purchase the parent company of Scandinavian streaming service, Tidal for a little less than $60 million. The service, which he relaunched later that year, is now worth $100 million.
On his 13th studio album “4:44,” Jaydetailed some of his investments, including artwork that he purchased years ago for $1 million. Today, Forbes estimates that his art collection is worth roughly $70 million.
Breakdown of his net worth: Nairametrics understands that the rapper also has numerous other investments outside of art and music. He has investments in real estate business, liquor business, and even equities in Uber. 
According to Forbes, his stake in Uber is valued at an estimated $70 million. His real estate investments are worth an estimated $50 million just as his coognac, D’Usse, sells almost 200,000 cases annually and is worth $100 million. More so, the rapper’s investment in Armand de Brignac, a champagne company, is worth an estimated $310 million.

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