Back toward the beginning of his career, who would’ve imagined the 1998 release of “Hard Knock Life” would become a pit stop on the journey toward billionaire status for Sean “Jay-Z” Carter?
Today, although he’s already a part of the club as Hip-Hop’s first billionaire, Jay-Z is still traveling along his journey, increasing his net worth to $2.5 billion, Forbes estimates.
Most people have come to know the New York native from his legendary music career. From his early days with Roc-A-Fella Records to the evolution to what the world knows as Roc Nation, Jay-Z is heavily awarded and recognized for his musical contributions — leading to Billboard ranking him as the greatest rapper of all time.
Whether or not Hip-Hop fans and enthusiasts agree, very few can argue with his impact on the industry and culture. Even Warren Buffet jumped into the proverbial group chat, saying, “For a young person growing up, he’s the guy to learn from.”
In addition to music, Jay-Z is an accomplished businessman. He invested in Uber and previously owned the streetwear brand Roc-A-Wear as well as streaming service TIDAL, which he sold for roughly $300 million, CNBC reported in 2021.
A previous report from AfroTech outlined the impact of his investments through Marcy Venture Partners. This investment organization “is a venture capital firm that has invested in 24 companies — 11 of which are considered ‘diversity investments.’ The term ‘diversity investments’ includes women-owned companies, Latinx-owned companies, and Black-owned companies,” we reported at the time. As of this writing, Marcy Venture Partners has 45 investments, 11 being “lead investments” and 23 being “diversity investments,” Crunchbase states.
But with Jay-Z’s updated net worth, let’s dive into some of the moves that led the 53-year-old to this point.
More Than Music
Jay-Z hasn’t toured or released an album in a few years, but his impact is felt in the industry. As the head of Roc Nation, the billionaire oversees artists such as Alicia Keys, J. Cole, and fellow billionaire Rihanna.
Roc Nation is not all about music, however. It also serves as a hub for sports with athletes that include LaMelo Ball, Danny Green, and NBA legend Jalen Rose.
And although he has not hit the tour stage in a while, Jay-Z is still in his 10-year deal with Live Nation worth $200 million.
An Eye For Art
Benzinga notes Jay-Z has become one of the most important players in modern art as well. His collection includes coveted pieces such as “Mecca” by Jean-Michel Basquiat.
Wines And Spirits
Jay-Z is also the man behind Armand de Brignac Champagne and D’Usse cognac.
AfroTech previously reported that Jay-Z sold most of his stake in the cognac brand in a renewed partnership deal with Bacardi.