Rapper and media mogul Jay Z is an American billionaire with a net worth of $1.3 billion. His business ventures include Tidal, The Lottery, and Roc Nation. He has various businesses, investments, and an extensive art collection. He is also married to the superstar singer Beyonce.
Jay-Z Net Worth
Forbes’ list of the world’s billionaires includes rapper Jay-Z. The rapper is one of the most successful and influential musicians of the decade, and is arguably hip-hop’s first billionaire. Forbes’ list breaks down Jay-Z’s assets and ranks his music catalog as his least profitable business venture. He has since diversified into business, including clothing, alcohol brands, and an upscale sports club.
With his empire spanning across art, real estate, and liquor, Jay-Z’s current net worth is estimated at more than $1.3 billion. He and Beyonce have stakes in several companies, including Tidal and Roc Nation. The couple have also owned private jets, lived in a luxurious mansion, and donated money to charity.
The hip-hop mogul has invested in several businesses over the years. He started Roc Nation, a record label that he has since expanded into a full-service sports, entertainment, and investment firm. As a result, he has built up a solid reputation as a successful businessman. And with his money, he has been able to invest in Black-owned businesses, as well.
One of Jay-Z’s latest business endeavors is Tidal, a streaming service that claims to pay the highest royalties to songwriters and artists. It’s the only place in the world where fans can download all of Jay-Z’s discography. It also hosts events and exclusive releases exclusively for the service. Jay has also invested in Armand de Brignac, a luxury brand of fine wine and spirits. Forbes estimates that the brand is worth $310 million.
In 2015, Jay-Z purchased a Norwegian startup called Tidal, and has grown it to become one of the major music streaming platforms
Although it is difficult to separate Tidal from the other streaming services, the company pays artists a modest royalty each time a song is played on its service. Jay Z’s music was originally distributed for free on Spotify, but the artist withdrew it from the service. That caused controversy among fans and led Jay Z to approach the board of Tidal. But he did not stop there. He told reporters in Los Angeles that Tidal had “a vision” and was in constant promotion mode.
It’s no secret that Jay Z is a big fan of the ride-sharing app Uber. In 2013, he invested $2 million in the startup. Today, Uber is worth about $43 billion. His investment is reported to be worth over $70 million today. He’s also committed to helping startups in his community and has launched a platform for entrepreneurs called Arrive that provides startup services and business development. While he’s not leading the fund, he’s likely to take a piece of the revenue he generates from the rides.
Besides investing in Uber, Jay-Z has invested in JetSmart ($20 million), Armand de Brignac (a company that provides service for private jets), and Roc-A-Fella Records. These investments have positioned him well for a successful IPO and have helped him diversify his income streams.
Jay Z has a sizable art collection in his home, estimated at $25 million. With the help of his fine art advisor Jeanne Greenberg Rohatyn, Jay Z has made it a point to visit some museums to get his tastes for art developed and help him acquire more pieces. In the 2011 film “Swimming With the Stars,” Jay Z even said his house is like a museum and compared it to the Louvre or the Tate Modern. Artists that have inspired the rapper include Andy Warhol, Richard Prince, and Jean-Michel Basquiat. Other artists that he has collected include Banksy, Ed Ruscha, and Richard Serra.
Jay Z married singer Beyoncé Knowles in 2008. The couple have three children together. Jay Z also has a daughter from a previous relationship.
He is a supporter of the Democratic Party and has donated to various political campaigns. He has also been an outspoken critic of police brutality and racial injustice.