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Posted under: Music News

Jay-Z Becomes Hip-Hop's First Billionaire

Hov tings!

Jay-Z can officially add becoming a billionaire to his ever-expanding resume of accomplishments. According to Forbes, the Grammy award-winning artist is the first billionaire rapper.

Before breaking down just how Shawn Carter achieved this elite status, the financial publication detailed a 2010 meeting between Carter and Warren Buffett in Nebraska. In the report published Monday, Buffett left the interaction with nothing, but positive things to say about the "99 Problems" rapper.

"Jay is teaching in a lot bigger classroom than I’ll ever teach in," Buffet said. "For a young person growing up, he's the guy to learn from."

Forbes looked at many of Jay's investments, including his $60 million financing into music streaming platform TIDAL, which is now worth $100 million today. Before reaching his $75 million music catalog, Forbes also referenced Mr. Carter's $310 million profit from Armand de Brignac, a high-end champagne that retails for $300 a bottle. Forbes also notes he started his own businesses. Carter has founded the Rocawear, D’Ussé and Roc Nation.

Born Shawn Carter, Jay-Z first rose to fame in 1996 when he released his debut album, Reasonable Doubt. Since then, the father-of-three has released 13 studio albums, his latest being 4:44 which came out in June 2017.

On the song, “Picasso, Baby,” from his 12th album Magna Carta … Holy Grail, the New York native rapped about having a “Basquiat in my kitchen corner.” Per The Guardian, Jay allegedly shelled out $4.5 million for the late artist’s 1982 painting, Mecca. Forbes reports the 49-year-old’s art collection is now valued at an estimated $70 million.

From releasing timeless music to his lifestyle ventures, Jay-Z is a living example on how not to be just a businessman, but a business, man. Salute, Hov!

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