Forbes Reveals Jay-Z as Hip-Hop’s First Billionaire
American rapper Shawn ‘Jay-Z’ Carter, is officially the world’s first billionaire rapper, according to Forbes. And what is the source of his wealth, you may ask? Well, the 49-year-old Brooklyn-raised entrepreneur extraordinaire has stakes in Uber and Tidal, as well as boasts properties in some of the most expensive places on earth, in New York and Los Angeles in the United States.
Jay-Z, also referred to as the Carter Administration, became the first rapper to be honoured in the Songwriters Hall of Fame, in 2017. This is a cadre of music that maintains the heritage and legacy of a spectrum of the most beloved of songs in human history, including the likes of John Lennon, Paul McCartney, Earth, Wind & Fire and even Kool and the Gang. He also has sold over 100 million music records worldwide, through 13 studio albums, making him one of the most successful musicians of all time.
While Generation Y’s may identify more with Jay-Z’s newer works such as ‘Magna Carta Holy Grail’, ‘4:44’ and his latest work with wife, Beyonce, titled ‘Everything is Love’, Millenials most cherish him for musical phenomenons such as ‘The Blueprint‘, ‘Kingdom Come’ and ‘The Black Album’.
While Jay-Z’s wife, Beyonce is reported to be worth North of $355million (estimated KES 36 billion), the couple have held the collective billionaire status since 2017, placing them in the ranks of entertainment heavyweights Steven Spielberg and Oprah Winfrey.
In comparison, some of East Africa’s wealthiest entertainers have just broken the dollar millionaire rank, with estimates crowning $4million+ for the region’s most popular star, Tanzania’s Diamond Platnumz, according to Tuko.co.ke. The likes of Kenya’s Nameless, who owns various properties and businesses, could be in the league of dollar millionaires, but one of Uganda’s most prominent musicians, Robert ‘Bobi Wine’ Ssentamu, is rumoured to be worth $200,000, according to Who Owns Kenya.
Forbes also debunked Dr. Dre’s billionaire status as a myth, instead estimating the hip-hop mogul’s wealth at about $770 million, following the sale of Beats by Dre product line to Apple Inc in 2014.