Jay Z Is Officially First Rapper To Become A Billionaire
Jay Z has gone and earned himself the enviable title of the first billionaire rapper.
According to Forbes, he's amassed a fortune of at least $1billion - with the business magazine pointing out that that number is a 'conservative' estimate.
Before you start @ing me - it's a common misonception that Dr Dre was the first. Dre sold his brand Beats to Apple in 2014 for $3billion - which was split between him and friend and business partner Jimmy Iovine. But after giving shares to the Beats' investors, as well as paying other things like fees and tax, Dre was left with about $400 million.
Jay Z's fortune is mainly down to investments he's made and stakes he has in other companies.
Forbes revealed how they broke down his fortune, and why it's actually a very conservative guess of how much he is worth.
They wrote: "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."
The breakdown shows Jay Z's music only accounts for about $75 million of his net worth, and it's actually his business mind that has made him so rich.
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
Featured Image Credit: PA