Rappers often boast about their wealth, but Jay-Z, the world's richest musician with a staggering $2.5 billion fortune, has the bank balance to back it up.
Despite not dropping a new album in eight years, Jay-Z remains at the top of the music industry's rich list, thanks to his savvy business ventures that have doubled his net worth since 2019.
His illustrious career kicked off in 1996 with the launch of his Roc-A-Fella label and the release of his debut studio album, Reasonable Doubt. Since then, he's sold over 125 million records worldwide and bagged 24 Grammy awards.
However, Jay-Z's colossal wealth, estimated by Forbes to be around $2.5 billion, stems more from his diverse business deals than his hit records. Meanwhile, despite Taylor Swift raking in a record-breaking $190 million post-tax earnings from her historic Eras Tour, she trails behind Jay-Z with a net worth of £1.3 billion, making her the second richest musician.
Swift, who is believed to be the first billionaire from music alone, has accumulated around £473 million from royalties and touring, owns a music catalogue valued at another £483 million, and holds real estate assets estimated at £99 million.
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Getty Images for Global Citizen Festival: Mandela 100)The 55-year-old entrepreneur has built his fortune through his own start-ups and early investments in global giants like Uber and SpaceX. One of Jay-Z's most unexpected ventures kicked off in 2013 when he announced the creation of a sports agency, Roc Nation Sports, reports the Express.
Initially dismissed by sporting titans, the agency gained traction after poaching a New York Yankee from a renowned baseball agent. The firm's growth skyrocketed after signing basketball heavyweights Kevin Durant and Jeremy Lin, and it now ranks as the seventh largest sports agency worldwide, valued at approximately $200 million (£161 million).
Jay-Z, born Shawn Corey Carter, bagged another hefty pay-out in 2021 when he sold his music streaming service Tidal for $297 million to a fintech company, just six years after buying it himself. Beyonce's husband's business ventures continue with a $200 million contract to promote Live Nation, an entertainment company and ticket-selling business.
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Getty Images)However, his biggest earnings come from his alcohol ventures, being a significant player in two businesses that have netted him a billion dollars alone. In the '90s, Jay-Z regularly featured champagne from the brand Cristal in his music videos and songs.
But after their CEO made racist remarks, he switched his loyalty to Armand de Brignac, leading to him buying 50 percent of the company in 2006 and acquiring the rest eight years later.
In 2021, Bernard Arnault, the wealthiest man in Europe and owner of LVMH, bought a 50% stake in Jay-Z's business for a reported $630 million, leaving the rapper with a cool $300 million profit. However, his biggest payday came from drinks giant Bacardi, with whom he partnered to purchase D'ussé, a high-end cognac brand.
In 2023, the Brooklyn-born mogul solidified his wealth empire when the rum company bought out his stake for a staggering $750 million.
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