Jay-Z Net Worth: How Did Beyonce’s Husband Become the First Rapper Billionaire?

Jay-Z is not an ordinary rapper. He has broken and made records, even becoming one of the few Hip-Hop artists who have become a billionaire.

He is the first rapper to break the billion-dollar mark and one of the few Black billionaires. With that said, how did Jay-Z manage to be this successful and rich?

The Humble Beginnings of Jay-Z

The media proprietor has always s been interested in music. He started writing music and freestyling when his mother gifted him a boom box for his birthday when he was young.

By the late 1980s, he began to be known in his neighborhood. Come 1995, he had already co-founded the record company Roc-A-Fella Records with Damon Dash and Kareen Biggs.

After a series of discussions, the music label eventually became a part of Russell Simmon’s Def Jam Records. Under their deal, Jay-Z would remain the owner of all of his master recordings.

ALSO READ: Alicia Keys Net Worth: Here’s How the Fallin’ Hitmaker Started Her Successful Career

Sure, it was an unprecedented act, but it benefited the now-52-year-old artist, earning him a massive amount of money than expected. His first album, Reasonable Doubt, sold 1.5 million copies in its first year.

So, how successful has he become? The “Empire State of Mind” hitmaker has reportedly sold over 100 million albums worldwide.

He has also won more than 20 Grammy Awards, and each of his albums has gone platinum.

Jay-Z’s Successful Business Ventures

Aside from making and producing music, Jay-Z also ventured into different business ventures. In 1999 he and Dash co-created the clothing line Rocawear.

After a year, the company was proven to be successful, generating $50 million annually. In fact, at its peak, it could make $700 million in annual revenue.

However, after a fallout with Dash in 2006, having him removed, he sold its rights to Iconix Brand Grip for $204 million in 2007. Beyonce's husband still holds a small stake in the business today.

YOU MIGHT ALSO LIKE: Kelly Clarkson Net Worth: How Did the American Idol Grand Winner Make Herself Rich?

In 2015, he acquired the music streaming service Tidal for $56 million and became the majority owner.

He co-founded the 40/40 Club nightclub franchise and endorsed several brands, like Chevy, Budweiser, Armadale Vodka, and Hewlett Packard. He, too, is the co-brand director of Budweiser Select.

In addition, Jay-Z bought a small stake in the Nets for $1 million in 2004. After selling his share when he launched his own sports management business Roc Nation Sports, he purchased a minority stake in the Barclay’s Center arena.

READ MORE: Drake Net Worth: How Did the Canadian Rapper Climb the Ladder of Success?

These things add up to Jay-Z’s billions. Thanks to his business empire, from record sales to touring to merchandise, endorsements, and investments, he started to reach the billionaire mark in 2019,

He has investments in Armand de Brignac champagne, Tidal, and D’Usse cognac, making it through Marcy Venture Partners, which has raised $85 million in investment capital in 2019.

No wonder Jay-Z is now worth $1.3 billion, per Celebrity Net Worth.

For more Jay-Z news, stay tuned to EpicStream!