BY TAIWO FAROTIMI
Jay Z whose real name is Shawn Carter has been voted first billionaire rapper by Forbes. Jay Z, who is also the husband of the popular singer Beyoncé however has investments in music, fashion and properties among others.
The 49-year-old entertainer was voted the highest paid rapper in 2018. The highest of his investment value comes from his stake in alcohol business, which is $410 million dollars against $100 million in music streaming service Tidal , $75 million in music catalogue, $70 million investment in Uber and $50 million in arts collection. According to Forbes, the rapper succeeded because he built brands rather rely on endorsements.
However, a joint networth of Jay Z and his wife Beyoncé is said to have since passed the billion dollar mark. Beyoncé alone is said to be worth $335 million from her music and endorsements.
Forbes’ stated that it had made deductions of some reasonable amount of money from the rapper’s valuation to account for his lifestyle before arriving at the conservative estimate of $1 billion worth. Aside from being the first rapper to achieve the $1 billion mark, the man who grew up in what was said to be one of the notorious areas of New York is one of few entertainers who have been admitted into the billionaire club.
Warren Buffet, renowned billionaire investor had said in 2010, “Jay is teaching in a lot bigger classroom than I’ll ever teach in. For a young person growing up, he’s the guy to learn from.”
Really billionaires can smell potential club members. Jay Z appears on the cover of latest edition of Forbes magazine alongside Buffet.
