In 2019, Jay-Z became the first rapper to become a billionaire, but his wealth was built up over time through his music and a string of lucrative business ventures that brought him millions of dollars.
Investing in black businesses is one of the most remarkable things Jay-Z has done with his fortune.
CelebrityNetWorth estimates that Jay-Z is currently worth an incredible $2.5 billion.
From rapper to billionaire, Hov has his hands in many businesses that help him stay at the top.
In this article, we examine some of the major business moves that helped this Brooklyn rapper become a billionaire.
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Record Label: Roc Nation
Jay-Z launched Roc Nation, an entertainment organization with divisions for sports, publishing, distribution, talent management, and record labels.
Among the label’s most prominent clientele in the entertainment and sports industries are Rihanna, Shakira, and Kyrie Irving, to name a few.
NFL Partnership
A $25 million deal between Roc Nation and the NFL was first disclosed in 2019.
Although Hov’s first contract was only set for five years, the NFL just declared that it will be extending it.
According to the agreement, Jay and his Roc Nation would serve as the official live music entertainment strategists for the football team.
Streaming Platform: Tidal Music Company
For $56 million, Jay-Z purchased Aspiro, a music streaming service started by a Swedish-Norwegian public corporation, in 2015.
Jay-Z was even supported by some well-known celebrities, including Jack White, Rihanna, Beyoncé, Kanye West, and Calvin Harris, to give musicians access to a streaming platform.
Eventually, in 2021, Jack Dorsey, the former CEO of Twitter, paid an estimated $297 million to acquire the streaming service.
Night Club: 40/40 Club
Because Jay-Z loves professional sports so much, he founded the 40/40 Club.
Its name comes from athletes who, in a single season, swiped forty bases and hit forty home runs.
At the start, the 40/40 Club debuted in New York City in 2003.
It later expanded to Atlantic City in 2005, Las Vegas in 2007, his hometown at Brooklyn’s Barclays Center in 2012, and Atlanta’s Hartsfield-Jackson International Airport in 2014.
This new 40/40 club in New York City opened a few months ago.
Cannabis Investment: Monogram and Flowhub
Jay-Z made his first foray into the cannabis industry in 2020 with the debut of Monogram and his investment in Flowhub in 2021.
Monogram is a vendor of flower and pre-rolled joints, whereas Flowhub specializes in cannabis software.
Jay not only owns his cannabis brand but also put $19 million into Flowhub, a cannabis payment startup.
Investment in Uber
Jay-Z made his first substantial investment in Uber. XXL claims that Hov invested $2 million in Uber in 2013.
It was one of Jay’s best business decisions to purchase shares in the ride-sharing app when it was just three years old and not nearly as successful as the multibillion-dollar corporation it is now.
Investments in Arts Works
“In 2013, Jay-Z paid more than $4 million for the painting “Mecca” by Jean-Michel Basquiat, demonstrating his major investment.
His blue-chip art collection, which is currently valued at over $70 million, has increased in value since then, with a particular emphasis on African American art icons, according to Yahoo Finance.
Investment in the Brooklyn Nets
According to Marca.com, Jay-Z purchased a minority investment in the Nets in 2003 when they were still based in New Jersey for about $1 million, or one-fifth of a stake.
Before the Brooklyn rapper left the Nets to make other investments, he and Beyoncé were regulars at the games for almost ten years.
Ace of Spades investment
2006 saw the debut of Armand de Brignac, also known as the Ace of Spades. Jay-Z first purchased the champagne brand in 2014, according to the Wooden Cork Blog.
Jay-Z was able to establish the brand as one of the most well-known in the history of champagne by leveraging his widespread industry recognition and public celebrity.
Other Investments By Marcy Venture Partners
Marcy Venture Partners, Jay-Z’s investment firm, has made investments in a number of digital startups, such as Bitski, an NFT marketplace, and sLABS, a company that develops spatial computing.
Real Estate Investment
The $200 million mansion that Jay-Z and his wife bought in 2023 is the most expensive house in California history.
Along with his wife Beyoncé, Jay-Z has substantial real estate holdings, with properties spread across several states.
