JAY-Z’s Historical Run Continues As He Upped His Net Worth by 40%
Ever since graduating from the Hip-Hop ranks and entering the world of full-fledged Entrepreneurship, JAY-Z has proven that the modern-day African-American Dream is the creation of Black Excellence. JAY-Z’s mass influence on popular culture goes beyond being crown the greatest Hip-Hop Lyricist ever to do it. JAY-Z’s unconventional path to ascension came from the brass streets of Brooklyn’s Marcy Projects. From hanging on street corners to signing deals to sell his boutique music streaming service TIDAL and half of his Champagne brand Armand de Brignac, JAY-Z continues to redefine the quintessential African-American dream.
MADE IN MARCY
According to Forbes, back in 2010 JAY-Z met with Billionaire Investor Warren Buffet in Omaha. The two spoke on the importance of investing in upcoming start-ups and venture capitalist firms. Fast Forward to 2021, JAY-Z has benefited from massive financial gains and ROI. In late February, JAY-Z signed a deal to sell half of his Armand de Brignac champagne to the famed LVMH for a value close to $640 Million. He still retains 50% of the share and is the majority owner of the champagne brand (value: $320 million).
In 2006, JAY-Z had a Financial interest in Armand de Brignac champagne, this came at a time when Frederic Rouzaud, Marketing Director of Cristal Champagne made some comments to the Economist when asked about how rappers endorse his product.
The hip-hop world has viewed the comments as racist and felt major sleight. Ultimately, JAY-Z took a declarative stance and started to boycott Cristal Champagne. Thereafter, JAY-Z invested in Armand de Brignac. The relationship between JAY-Z and the french champagne brand has grown immensely as Ace of Spade become popularized throughout the entertainment industry.
JAY-Z Inks A Deal To A Sell Majority Stake In Tidal
In his second lucrative deal in 2021, JAY-Z sings a deal to sell a majority stake in his music streaming service Tidal to Square Inc.’s CEO Jack Dorsey for reportedly $297 million. According to Forbes, the transaction valued the company at around $450 million. Square Inc. is a mobile payment company based in San Francisco, CA. According to Bloomberg, JAY-Z expresses his deepest regards as he continues the efforts to expand the company’s suite of financial tools to emerging artists and musicians. In Addition to this transaction, JAY-Z has joined Square’s board of Directors as Square will become Tidal’s significant majority owner. JAY-Z is no stranger to momentum, just a week ago he inked a deal with LVMH. Two deals boost his net worth up 40% from $1 billion to 1.4 billion; This is Black Excellence!
According to Forbes, here’s a breakdown of how the Hip-Hop billionaire created generational wealth, below is the diversified investment portfolio. At this rate, JAY-Z is on par with accumulating $1 Billion this year.
Cash and Investments = $425 Million
Armand de Brignac= $320 Million
Roc Nation= $140 Million
D’Usse = $95 Million
Music Catalog = $95 Million
Art Collection = $70 Million