1 month ago
30
TEMPO.CO, Jakarta - Shawn Corey Carter, popularly known as Jay-Z, is one of the most influential figures in the hip-hop industry. His prominence dates back to his debut in 1996, wherein his first album, Reasonable Doubt, sold more than a million copies in the United States (U.S.), says Britannica.
The husband of pop icon Beyoncé Knowles continues to dominate in the music industry as he set a record for being the first billionaire rapper. Particularly speaking, in 2019, Jay Z joined other billionaires, boasting a staggering nine-figure fortune. But where does all of his wealth come from?
Citing Forbes, Investopedia, The Street, and Britannica, in this article, we're going to take a look at Jay Z's net worth in 2024. Keep reading to learn about the artist's sources of fortune.
Jay-Z’s Net Worth in 2024
As per Forbes, Jay-Z's net worth reaches approximately an impressive US$2.5 billion in 2024. This massive number in his bank account stems from a multitude of income sources, primarily including his liquor businesses, art collection, real estate, and stakes in prominent companies.
For more details, let's dive into some of his fortunes.
1. Music Catalog
Jay-Z's initial fortune started from his fame in the hip-hop industry. Forbes estimated that his music catalog is worth around US$75 million. This is not surprising since his debut album itself was a hit, successfully selling more than a million copies.
Throughout his career, Jay-Z has released around 13 solo albums and sold a total of over 30 million copies. But, beyond the impressive banknotes, he has made numerous accomplishments, such as multi-platinum albums and entering the Billboard.
His success in music also includes one of his most lucrative partnerships, the one with Live Nation. Jay-Z's contract is valued at a mind-blowing US$200 million.
2. Liquor Businesses
Alongside being a rapper, Jay-Z is also a renowned entrepreneur. In his words, he's not a businessman, but "a business, man." He owns a number of liquor brands, bringing him to garner millions of dollars.
In 2014, the hip-hop icon reportedly bought Armand de Brignac, valued at approximately US$310 million. The conglomerate LVMH found an opportunity to own 50 percent stakes in what would later be known as the Ace of Spades. The purchase was made in 2021.
Two years later, the music mogul founded his own brand, D'Usse (which is worth US$100 million, according to Forbes). Jay-Z received another jackpot after a beverage company, Bacardi, bought most of the stakes in his liquor brand. He received around US$750 million, according to Investopedia, making him the world's richest singer in 2024.
3. Art Collection and Real Estate
Art collections are among the assets Jay-Z has. Including a Jean-Michael Basquiat masterpiece, "Mecca," the rapper's art collection was valued at an estimated US$70 million in the year 2019.
Apart from art, Jay-Z is also involved in the world of real estate. He bought a pair of homes, a $26 million East Hampton mansion and an $88 million Bel Air estate, to welcome the arrival of his twins in 2017. Moreover, he owns a Tribeca penthouse, which he purchased for US$6.85 million in 2004.
4. Roc Nation
Jay-Z solidified his significance in the entertainment industry by founding his own label named Roc Nation. Dating back to 2008, Roc Nation presents some of the biggest pop stars, such as Rihanna, Shakira, J. Cole, and more.
His label's value reveals a jaw-dropping figure of US$75 million, according to Forbes.
5. Tidal
Jay-Z purchased a streaming platform, Tidal, in 2015 for US$56 million. Soon after the purchase, he made a sneaky move by transferring all his music from Spotify to Tidal.
As The Street reported, Jay Z, despite being the main stakeholder, sold the majority of ownership to a fintech company, Square, in 2021 for US$297 million.
6. Other Investments
Did you know that Jay-Z owns some shares in companies like Block and Uber? In Uber itself, his stake is reportedly worth around US$200 million, as mentioned in The Street.
Editor's Choice: Rapper Jay-Z Accused in Lawsuit of Raping 13-Year-Old Girl
Click here to get the latest news updates from Tempo on Google News
