In 2019, Jay Z became the first rapper to win the precious title of billionaire. Shawn Corey, his real name, went from a drug dealer in the Marcy Houses neighborhood of Manhattan to one of the biggest entertainers in the world. Focus on his inspiring journey and how he managed to transform his life.
Jay Z: From drug dealer to interplanetary star
Jay Z has managed to build an astronomical fortune thanks to his undeniable talent in music. But his genius does not stop there, it also extends to the world of business. His generally shrewd investments and partnerships have brought him enormous amounts of money, bringing his net worth to over $1 billion, a first in rap. Between music, alcohol and real estate, Beyoncé’s husband has managed to build a significant heritage.
Before getting there, the billionaire lived in a social housing building in the Brooklyn neighborhood of New York. He even sold drugs in his youth. His career embodies American success and the accomplishment ofAmerican dreams. He is now respected in the New York business community and has even formed a strong friendship with Barack Obama, the former American president.
The billion race won by Jay Z
Jay Z began his activity as a rapper in 1996. Two decades later, he became “one of the rare billionaires in the world of entertainment and the first to come from the rap world”recalls Forbes. The American rapper can therefore rejoice in having won this title before his competitors.
This universe is indeed very marked by the effect of snobbery and the desire to constantly compare oneself to other rappers. The billionaire race, which had raged for a long time, was won hands down by Beyoncé’s husband, followed by Puff Daddy, whose wealth is estimated at $825 million, and by Dr. Dre, whose fortune is amounts to 800 million dollars.
While some are convinced that rapper Dr. Dre already reached billionaire status a few years ago, that is not yet the case. According to Forbes, Dr. Dre sold his Beats brand to Apple for $3 billion. However, while his company is worth billions, his personal fortune is only $800 million in 2021
The list of billionaires in the entertainment world is very small. It includes Star Wars creator George Lucas, filmmaker Steven Spielberg, Oprah Winfrey, basketball legend Michael Jordan and now Rihanna.
What is Jay Z’s fortune made of?
Jay Z’s beginnings were very complicated. He was not born with a silver spoon in his mouth. In 1996, he released his first album Reasonable Doubtvia his independent label, Roc-A-Fella Records. He has never hesitated to evoke the subject of his social ascension in his music. He went from a miserable life on the streets of Brooklyn to the boardrooms of big companies. He emphasizes in a remix of Kanye West’s song, Diamonds From Sierra Leone, “I’m not a businessman, I’m a business, man.” This very clearly reflects the importance of the weight it represents in the business world today. It is not just an artist, but much more than that: a real brand.
In 1999, he created his own clothing line called Rocawear, which was sold eight years later for $204 million to the clothing company Iconix. In 2008, Jay-Z launched the entertainment company Roc Nation, worth an estimated $75 million. In 2015, he submitted an offer to buy the parent company of the Scandinavian streaming service Tidal for a value of $60 million.
Jay Z’s wealth consists of the following:
- Shares in the champagne company Armand de Brignac and its cognac D’Ussé, reporting 220 and 100 million dollars
- A musical catalog worth 75 million dollars
- A streaming service, titled Tidal, reporting 100 million dollars.
With his partner Beyoncé, Jay-Z owns numerous real estate assets: a penthouse in one of the most chic neighborhoods of Manhattan (Tribeca), properties in the suburbs of New York and the Bel Air district of Los Angeles. In total, this heritage amounts to 50 million dollars.
In his thirteenth studio album 4:44Jay-Z reveals some of his art investments that cost him $1 million. Today, Forbes estimates his collection is worth $70 million. The rap star categorically refuses to resell them and is convinced that their value is still likely to increase.
Besides his investments in art and music, Jay-Z has expanded his empire to include investments in companies like Uber. Forbes indicates that its stake is estimated at $70 million. It also has stakes in a number of lesser-known startups, such as insurance startup Ethos and the salad chain Sweetgreen.
If Jay Z had one piece of advice to give to young entrepreneurs who don’t dare to get started, it would be: “Get involved in the things you love and make sure you have rules and integrity in what you do. »
Jay Z and Beyoncé: the price of their filming at the Louvre museum
The Louvre Museum allowed the iconic couple, Jay Z and Beyoncé, to shoot the video for their song Apeshit in the middle of the paintings. The flagship couple of R’n’B and rap filmed themselves in front of Mona Lisa, a golden opportunity to highlight the essentials of the Louvre, from the “Victory of Samothrace” to Géricault’s “Radeau de la Méduse”, through the “Rite of Napoleon” by Jacques-Louis David.
To shoot this clip, Beyoncé and Jay Z paid the sum of 20,000 euros to privatize the museum. The Louvre still benefited from this global exhibition. The clip has in fact been viewed 10 million times in less than 24 hours. A week later, the counters reached 30 million views. The Louvre is also taking advantage of this to reach a younger generation who are undoubtedly more reluctant to attend exhibitions and museums. In September 2014, the couple had already privatized the Louvre for their On The Run Tour. He just wanted to visit it with their eldest daughter Blue Ivy. Beyoncé took the opportunity to publish several photos of this family outing on social networks.
