In a recent Forbes article, the outlet says that the 49-year-old rapper "has accumulated a fortune that conservatively totals $1 billion." The distinction, according to the magazine, makes Jay the first hip-hop artist to become a billionaire. Jay reached his new status thanks to company deals and acquisitions in liquor, art and real estate, as well as stakes in companies like Uber.
Forbes came to this conclusion by valuing each of Jay's holdings individually: Armand de Brignac, his liquor brand, at $310 million; his cash and investments at $220 million; D'Usse, his joint venture with Bacardi, at $100 million; Tidal, his music streaming service, at $100 million; Roc Nation, his entertainment company, at $75 million; his music catalog at $75 million; his art collection at $70 million; his real estate holdings at $50 million.
In the article, Swizz Beatz, one of Jay's music producers, praises the multitalented entertainer for both his music abilities and business sense.
"It’s bigger than hip-hop… it’s the blueprint for our culture. A guy that looks like us, sounds like us, loves us, made it to something that we always felt that was above us," Beatz says. "If he’s a billionaire now, imagine what he’s about to be. Because he’s only just starting."
Jay's recent achievement comes just over two months after he was honored with the President's Award at the NAACP Image Awards. In his speech, Jay talked about the women who made him into the man he is today.
"I grew believing I could do anything. That I could accomplish anything because of those strong women in my house," he expressed, referencing his mother, Gloria Carter, and grandmother, Hattie White. "I would like to dedicate this award to those beautiful women. I'd like to dedicate this award to beautiful women in my life, it's Beyonce."