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JAY-Z Achieves $2.5 Billion Net Worth
In a new report, Forbes revealed that hip-hop's first billionaire, JAY-Z, now has a net worth of $2.5 billion.
And the winner is Hov. On Friday (March 24), Forbes reported that Brooklyn-born hip-hop veteran, JAY-Z, has amassed a current net worth of $2.5 billion. The 4:44 artist, who's also hip-hop's first billionaire, was also named the 1,203rd wealthiest person in the world. At No. 1 on the Forbes list is Bernard Arnault, CEO of LVMH Moët Hennessy Louis Vuitton, who has a valuation of $216.1 billion.
Although Forbes has not publicly stated why the rapper, whose legal name is Shawn Carter, has achieved the net worth increase, it's likely his updated valuation was due to selling a controlling stake in D'USSÉ VSOP cognac. In February, D’USSÉ’s parent company Bacardi purchased Hov’s 50 percent stake for a reported $750 million, where the rapper previously held a “significant ownership stake."
In October, Carter sued Bacardi for questionable financial transparency after the company offered the 24-time Grammy winner just $500 million for his stake, while he sought $1.5 billion. In 2019, Hov became hip-hop's first billionaire, with Forbes citing his “expansive, encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber."
Hov, who recently performed "God Did" with DJ Khaled at the 65th Annual Grammy Awards in February, spoke with Tidal about losing in the eight 2018 Grammy categories he was nominated in.
"In that moment, I was like, “They missed the opportunity,” because people emulate success," he said. "In that moment, that album, 4:44, was a moment for us to say, “Hip-hop is viewed as a young man’s sport. Now here is this album that could take us into the next sphere.” I feel like they missed the moment."