Jay-Z doubles as one of the greatest rapper's to ever hit the scene and one of hip hop's most recognizable moguls. The Brooklyn native is the ultimate hustler, managing to amass his billion-dollar fortune through various projects and holdings. The 51-year-old executive recently struck two deals, one selling his streaming service Tidal to Sqaure, Inc. and another selling half of his champagne brand Armand de Brignac, both contributing to the whopping 40% jump in his net worth.
As reported by Forbes, Jay's recent $297 million deal with Jack Dorsey's mobile company Square, Inc. to sell a majority stake in Tidal valued the company at around $450 million. Tidal's "artist shareholders" will continue to have a stake in the company and Jay-Z will own a small percentage as well.
This news comes about a week removed from news that he sold off half his luxury champagne brand Armand de Brignac champagne to LVMH in a deal that valued it at about $640 million.
Both these deals helped Jay's net worth jump from an already impressive $1 billion to a whopping $1.4 b billion. Of course, this is just the start for the mogul. His diverse and growing business portfolio includes his new marijuana start-up company MONOGRAM, the remaining 50% stake in the $300 per bottle Armand de Brignac, as well as D'Usse cognac and smaller stakes in different companies.
A brief breakdown of his billion-dollar net worth is as follows: Cash and Investments make up about $425 million of his wealth, while his $320 million stake in Armand de Brignac contributes the next largest chunk of his cash. Money from Roc Nation, D'Usse, his music catalog and his art collection makes up about $140 million, $120 million, $95 million, and $70 million of his wealth respectively.
Lastly, his real estate portfolio makes up about $50 million of his massive fortune. Congrats to Jay-Z on the great news!
[via]