Hip-Hop Mogul Jay-Z’s Net Worth Soars to $2.5 Billion, Solidifying His Reign as Richest in the Game
By Boniface Ihiasota, USA
Hip-hop royalty and business magnate, Jay-Z, has set a new benchmark for his net worth, which now stands at an astounding $2.5 billion.
The news was reported by Forbes on Friday, placing him at No. 1,203 on the list of the world’s wealthiest people.
The top spot belongs to French business magnate Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton, with a staggering net worth of $216.1 billion, according to ‘aceshowbiz.com’.
Jay-Z’s wealth extends far beyond music, as the report highlights.
Despite the absence of a tour or album release in the past year, the Grammy Award-winning artist still rakes in millions from his Armand de Brignac champagne and D’Usse cognac businesses.
In fact, Jay-Z’s assets range from his Roc Nation entertainment and sports empire to “a fine-art collection including works by Jean-Michel Basquiat.”
The Brooklyn-born rapper first made headlines as hip-hop’s first billionaire in 2019, thanks to his sprawling and diversified empire.
With his current net worth, Jay-Z, also known as Jigga, solidifies his position as the richest hip-hop mogul, topping last year’s Forbes’ list with a reported net worth of $1.5 billion.
Sean “P. Diddy” Combs, who joined the billionaire boys club last October thanks to the success of his Ciroc partnership with Diageo, DeLeon Tequila, and REVOLT network, currently holds the No. 2 spot on the hip-hop rank after dethroning Kanye West.
As for Kanye West, his net worth plummeted after Adidas severed ties with him amid his anti-Semitic scandal, leaving him no longer a billionaire.
Last October, reports showed that his net worth had dwindled from $1.5 billion to $400 million after the deal with the athletic wear company fell through.
Jay-Z’s net worth news follows the recent sale of his 50 per cent stake in his D’Usse cognac back to parent company Bacardi for a reported $750 million after a heated court battle. While he may no longer have a majority stake in the company, he still retains significant ownership in the brand.
