Forbes Names Jay-Z World’s Richest Musician
American rapper and businessman Jay-Z has become the world’s richest musician after his wealth reached an estimated $1 billion, according to Forbes.
Forbes said the rapper had accumulated a fortune large enough to make him one of only a small number of entertainers to become a billionaire and the first hip-hop artist to reach the milestone.
“It’s clear that Jay-Z has accumulated a fortune that conservatively totals $1 billion,” Forbes said.
A significant part of his wealth came from his business interests outside music, including his Armand de Brignac champagne brand, which Forbes valued at about $310 million.
Jay-Z also held investments worth more than $200 million, including a stake in ride-hailing company Uber.
His other major assets included the Tidal music streaming service and his D’Ussé cognac business, which also contributed substantially to his estimated net worth.
The rapper has built a wide-ranging business empire alongside his successful music career, investing in entertainment, technology, beverages and other ventures.
Jay-Z recently performed at the reopening of New York’s Webster Hall and, together with his wife Beyoncé, received the Vanguard Award at the GLAAD Media Awards.
