As far as moguls go, there aren’t many who can touch Jay-Z’s legacy. He’s shown that transitioning from artist to successful businessman can not only be done but done well. Many might know that he was worth US$1 billion, and now his net worth has shot up by 40 percent following his most recent deals with Jack Dorsey‘s Square and LVMH.
Forbes made the revelation that Hov is worth about $1.4 billion. Some of that newly acquired wealth came from his decision to sell a majority stake in the music streaming company Tidal to Jack Dorsey’s mobile payment company Square for $297 million. The transaction was valued at around $450 million. Even though he’s sold his stake in the company, he’s retained a seat on the board as well as a small percentage of the company as well. The rest of his wealth came from a previous deal LVMH in which he sold half of his Armand de Brignac champagne for about $640 million.
Forbes also took an in-depth look at how he’s accumulated his wealth and how it all adds up to a staggering $1.4 billion. His cash and investments alone are worth about $425 million. Jay-Z has always been one to sing about what he’s living, and within the last few years, he’s urged fans of his music to take an example and invest when they could. According to Forbes, he has stakes in many companies, including Uber, Ethos, and SpaceX.
One of his long-standing brands is the music label Roc Nation which is worth $140 million. The company has certainly grown over the years and is now responsible for the Super Bowl Halftime Show. His cognac brand, which is in partnership with Bacardi, is worth $120 million. Of course, his Music Catalog would factor into his wealth, and that is worth about $95 million. The Empire State of Mind singer has close to 300 songs and owns the publishing rights and master recordings to his music.
“I bought some artwork for one million. Two years later, that s*&t worth two million. Few years later, that sh*t worth eight million,” Jay-Z raps in the “Story of O.J.,” and it seems he was trying to give some helpful advice. His art collection is worth about $70 million. Lastly, the deals that he made in real estate add another $50 million to his net worth.
It’s a truly impressive portfolio for the New York native who started his musical career after founding the record label Roc-A-Fella Records in 1995. It should also come as a little surprising considering the fact that you have to have something special to be able to sell 50 million albums and 75 million singles sold worldwide.
