Jay-Z Is Now a $2.5 Billion Business, Man

variety.com:

Jem Aswad Senior Music Editor Jay-Z’s net worth has soared to $2.5 billion, according to a new Forbes report published Friday.

While the report is slim on details, it notes that the fortune of the man born Shawn Carter 53 years reached far beyond music. “Even in a year without a tour or album release, Jay-Z mints millions from his Armand de Brignac champagne and D’Usse cognac,” it says. “The Brooklyn-born rapper was crowned hip-hop’s first billionaire by Forbes in 2019, thanks to a sprawling and diversified empire,” noting assets from his Roc Nation entertainment and sports empire to a fine-art collection including works by Jean-Michel Basquiat.

Last month, Jay not only performed “God Did” at the Grammy Awards with DJ Khaled, Lil Wayne, Rick Ross, John Legend, and Fridayy, he resolved a months-long legal battle with Barcardi over his D’ussé Cognac brand that saw the beverage giant acquiring a majority stake reportedly worth about $750 million — which was a key factor in boosting his net worth — while Jay retains a “significant ownership stake,” according to a press release.

Back in 2019, when Forbes first proclaimed Jay a billionaire, his assets were outlined thus: Armand de Brignac champagne: $310 millionCash & investments, including a stake in Uber worth an estimated $70 million: $220 millionD’Ussé cognac: $100 millionTidal streaming service: $100 millionRoc Nation: $75 millionMusic catalog: $75 millionArt collection: $70 millionReal estate: $50 million That total had climbed to $1.5 billion last fall, according to a list compiled by former Forbes editor Zack O’Malley Greenburg.