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Market Digest Nigeria

Entertainment

JayZ is first hiphop billionaire

JayZ

According to Forbes, JayZ is hip-hop’s first billionaire. His fortune has accumulated to $1 billion.

Jay-Z’s steadily growing kingdom is expansive, encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber.

He was a drug dealer before becoming a musician, starting his own label, Roc-A-Fella Records, to release his 1996 debut, Reasonable Doubt. Since then he’s amassed 14 No. 1 albums, 22 Grammy awards and over $500 million in pretax earnings in a decade.

Crucially, he realized that he should build his own brands rather than promote someone else’s: the clothing line Rocawear, started in 1999 (sold for $204 million to Iconix in 2007); D’Ussé, a cognac he co-owns with Bacardi; and Tidal, a music-streaming service.

 

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