Jay Z has officially earned himself the title of the first billionaire rapper.
He’s amassed a fortune of at least $1billion, with Forbes, the business magazine pointing out that that number is a ‘conservative’ estimate.
It’s a common misonception that Dr Dre was the first. When Dre sold his brand Beats to Apple in 2014 for $3billion it was actually split between him and friend and business partner Jimmy Iovine.
After giving shares to the Beats’ investors, as well as paying other things like fees and tax, Dre was left with about $400 million.
His fortune is down to investments he’s made and stakes he has in other companies.
“To calculate his net worth, we looked at the artist’s stakes in companies like Armand de Brignac champagne – applying our customary discount to private firms – then added up his income, subtracting a healthy amount to account for a superstar lifestyle. We checked our numbers with a roster of outside experts to ensure these estimates were fair and conservative.”
Armand de Brignac champagne – $310 million
Cash & investments, including a stake in Uber worth an estimated $70 million – $220 million
D’Ussé cognac – $100 million
Tidal streaming service – $100 million
Roc Nation – $75 million
Music catalogue – $75 million
Art collection – $70 million
Real estate – $50 million
Back in 2018, he racked up a bar tab of over $90,000.
He went out to a fancy Manhattan club with a friend, and was drinking Ace of Spades champagne. His bill to $74,000, with an additional $6,035 tax and then an $11,000 tip. Crazy.
Some called him a cheapskate for only tipping 12 percent instead of 15-18 percent.