Billionaire Jay-Z’s Net Worth Increases by 40% Following LVMH and Square, Inc. Brand Sales
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Jay-Z has already broken the glass ceiling for Hip-Hop billionaires, but now the business mogul’s net worth has jumped by another 40% following his recently-announced brand deals with Square, Inc. and LVMH.
According to Forbes, Jay-Z’s net worth has gone from $1 billion to $1.4 billion just two weeks after he struck deals to sell his music streaming service Tidal and half of his champagne brand Armand de Brignac — better known as Ace of Spades — to elevate his business portfolio.
The outlet broke down the Brooklyn entrepreneur’s net worth to highlight his sales from Roc Nation ($140 million), the other half of Armand de Brignac ($320 million), his D’Usse cognac ($120 million), royalties from his music ($95 million), his art collection ($70 million), real estate ventures he shares with his wife Beyoncé ($50 million), and $425 million in cash and investments from his collection of startups including Ethos — an insurance company — and salad chain Sweetgreen.
Additionally, Jay-Z also has holdings in Uber and SpaceX, as well as shares in Oatmilk company Oatly, which is expected to IPO this year for a $10 billion valuation.
Since he got started in music, Jay-Z has always been two steps ahead thinking of a long-term plan that included turning himself into a self-made business success story and increasing his net worth.
Over the years, the rap legend has explored the business side of several different industries, including art, technology, spirits, fashion, and more.
As Hip-Hop’s first-ever billionaire, he certainly predicted this moment right in his verse from Kanye West’s 2005 song “Diamonds From Sierra Leone (Remix)” when he said, “I’m not a businessman; I’m a business, man!”
For a full breakdown of Jay-Z’s newly-increased net worth, click here.