Jay-Z’s Net worth Increases By 40%
Jay-Z is hip-hop’s first billionaire. Earlier in the year, Forbes announced that his net worth increased from $1 billion to $1.4 billion. In this article, we detail how Jay-Z was able to amass such a fortune.
Champagne and cognac brands
Jay-Z’s champagne, Armand de Brignac, sells for about $300 per bottle. The company is currently valued at $640 million dollars with Jay-Z owning a 50% stake after selling half of the shares in the company in a deal worth $320 million.
While Jay-Z’s cognac, D’USSE, launched in 2012. Fifty rare bottles of the cognac are currently available for auction. It is estimated they could be worth up to $750,000.
According to Forbes, D’USSE is worth $120 million.
Music and art collections
Jay-Z has an impressive art collection currently valued at $70 million. It features works by world-renowned artists such as Damian Hirst, David Hammons and Richard Prince. He sees the collection as an investment as works of art tend to increase in value over time. He also has a music catalogue worth $95 million dollars. A music catalogue is a collection of original pieces of music. He owns both publishing rights and master recordings to his music.
Real estate and Roc Nation
Jay-Z and Beyoncé picked up two homes in 2017 after giving birth to their twins — an $88 million Bel Air mansion and $26 million East Hamptons spread. The Los Angeles home is already worth $5 million more than the purchase price. The Bel Air mansion is estimated by Forbes to be worth $93 million. The pair also purchased an East Hamptons spread for $26 million dollars in 2017. Additionally, Jay-Z owns a penthouse in Tribeca which he purchased for $6.85 million in 2014.
Jay-Z also owns Roc Nation, which is a joint venture with Live Nation. It is a full-service entertainment company serving some of the biggest names in the world from musician Rihanna to athletes like Romelu Lukaku. The company is responsible for the Super Bowl halftime show, and the Made in America Festival.
Jay-Z has investments in companies like Square, Uber, salad chain Sweetgreen, insurance start-up, Ethos, SpaceX, and Oat Milk company. He also sold a majority stake in Tidal to Square for $297 million. However, Jay-Z will remain on the board of directors of the company and still owns a small percentage of shares in the music-streaming giant.
What lessons can we learn from Jay-Z?
Jay-Z is undoubtedly one of the best rappers of all time, and it is likely that he would still be wealthy if he didn’t have such diverse financial investments.
In addition to this, Jay-Z has also become a master of diversifying his income sources.
He has a very high financial IQ and thinks long-term. As Jay-Z gets older, he has transitioned from being a rapper into becoming a businessman. He has also diversified his income stream away from just music and has made financial decisions and investments that will ensure he and his family remain some of the richest people on the planet long after he retires.