Forbes has released a new report indicating that JAY-Z, a pioneering figure in the hip-hop industry and the first billionaire in the genre, has reached a net worth of $2.5 billion. The Brooklyn-born rapper, who recently ranked 1,203rd on Forbes’ list of the world’s wealthiest people, has achieved this massive fortune through various ventures, including the sale of his 50% stake in D’Ussé Cognac for a reported $750 million. While JAY-Z has sold the majority of his stake, he will still maintain a significant ownership in the brand. Despite ranking high on the Forbes list, he is still far behind the wealthiest person, Bernard Arnault, CEO of LVMH Moët Hennessy Louis Vuitton, who is valued at $216.1 billion.
Forbes has not disclosed the reason behind the recent surge in net worth for Shawn Carter, known professionally as JAY-Z, but it is believed to be linked to his sale of a controlling share in D’USSÉ VSOP cognac. In February, Bacardi, the parent company of D’USSÉ, bought out JAY-Z’s 50% stake in the brand for an estimated $750 million. Prior to the sale, the rapper had held a significant ownership stake in the company.
Forbes recently reported that Jay-Z, whose real name is Shawn Carter, now has a net worth of $2.5 billion, making him the wealthiest hip-hop artist and the 1,203rd wealthiest person in the world. The reason for his net worth increase has not been officially stated by Forbes, but it is believed that the sale of his controlling stake in D’USSÉ VSOP cognac played a significant role. In February, Bacardi, the parent company of D’USSÉ, purchased Jay-Z’s 50 percent stake for $750 million, after which he no longer held a significant ownership stake. However, in October, Jay-Z sued Bacardi for questionable financial transparency after they offered him $500 million for his stake, while he was seeking $1.5 billion. Forbes previously named him hip-hop’s first billionaire in 2019, attributing his wealth to his liquor business, art collection, real estate holdings, and investments in companies such as Uber.
Hov, who performed alongside DJ Khaled at the 65th Annual Grammy Awards in February with their song “God Did,” discussed his experience of losing in all eight categories he was nominated for at the 2018 Grammy Awards during an interview with Tidal.
As of 2022, Jay-Z’s wife Beyoncé, who is 41 years old, has a remarkable net worth of $426 million, making their combined family wealth even higher.
During an interview with Tidal, JAY-Z reflected on losing in all eight categories he was nominated in at the 2018 Grammy Awards. He expressed disappointment, stating that his album “4:44” was an opportunity to break the stereotype of hip-hop being a young man’s game and pave the way for the genre to reach new heights. In his opinion, the Grammy committee missed an opportunity to recognize the significance of the album and its impact on the culture.