Jay-Z Is Formally a Billionaire: Inside His Empire

Kevin Mazur/Getty Photos for The Reform Alliance It is official: Jay-Z is a billionaire! The 49-year-old Grammy winner has change into the primary hip-hop artist to succeed in this main cash milestone, in response to Forbes. The outlet launched a brand new report on the famous person rapper on Monday, breaking down his empire. Along with his music ventures, Jay-Z can also be an investor in varied firms, together with Uber. With a view to decide Jay-Z’s earnings, Forbes calculated his stakes in these varied firms. “To calculate his web price, we regarded on the artist’s stakes in firms like Armand de Brignac champagne—making use of our customary low cost to personal corporations—then added up his earnings, subtracting a wholesome quantity to account for a famous person way of life,” the report states. “We checked our numbers with a roster of out of doors consultants to make sure these estimates had been truthful and conservative.” Among the many worth of his portfolio? $310 million for Armand de Brignac champagne, in addition to $220 million in money and investments, together with an estimated $70 million for Uber. Steve Russell/Toronto Star through Getty Photos Jay-Z’s portfolio additionally consists of $100 million for his streaming service, Tidal, $100 million for his cognac, D’Ussé, $50 million in actual property, $70 million artwork assortment, a $75 million music catalog, in addition to $75 million for Roc Nation. For extra info on this report, head on over to Forbes. https://www.eonline.com/information/1046373/jay-z-is-officially-a-billionaire-inside-his-empire?cmpid=rss-000000-rssfeed-365-topstories&utm_source=eonline&utm_medium=rssfeeds&utm_campaign=rss_topstories The post Jay-Z Is Formally a Billionaire: Inside His Empire appeared first on Kartia Velino.