While Jay-Z is known as a music icon, his accumulation of wealth can be attributed to his extensive investment in different companies.
American rapper and Roc Nation record label founder Jay-Z has seen a dramatic increase in his net worth over the past year according to Forbes. by the figures releasedJay-Z is now worth as much as $2.5 billion in what becomes a prophecy come true for the 53-year-old rapper.
Jay Z was not one of the founders of rap music in the United States, but he was certainly among the early pioneers. As he was starting his career back in the 1990s, he had to combat the demoralizing notion that it’s important to be an artist and earn good money. With his current success, Jay-Z has proven all the myths he grew up with wrong.
“That was the best trick in music that people have ever pulled off, convincing artists that you can’t be an artist and make money,” he said. saying. “Hip-hop from the beginning has always been aspirational. He always broke that notion that an artist cannot also think about money”.
While Jay-Z is known as a music icon, his accumulation of wealth can be attributed to his extensive investment in different companies. Jay-Z’s wealth over the past year has typically come from Armand de Brignac champagne and D’Usse cognac. His holdings in the firm contributed in part to making Jay-Z the first rapper to cross a net worth of $1 billion in 2019.
Even without releasing a single album over the past year, there hasn’t been a slowdown in the growth of Jay-Z’s wealth, which was already valued at $1.4 billion last year. The impressive feat of this growth is further compounded by the economic turmoil experienced in the global financial landscape in the year-to-date (YTD) period.
Jay-Z’s net worth and wealth ideology
As far back as 2010, the veteran investor known as the Omaha Sage, Warren Buffett, pointed to Jay-Z’s greatness in terms of propensity to build wealth. At the sit-in, the veteran rapper made a discovery about the similarities in stocks and investing.
As described, this similarity depends on going for what one understands, connecting both Buffett and Jay-Z.
“Music is like actions, that’s where the heat of the moment is” Jay-Z told Forbes following the interview at the time. “People tend to make emotional decisions based on that. They don’t stick with what they know.”
At current valuations, Jay Z is now ranked the 1,210 richest person in the world. The sale of his music streaming platform Tidal to Block Inc (NYSE: SQ) for $302 million has also contributed to Jay-Z’s growing wealth of late.
Just as Buffett predicted, Jay-Z is becoming an entrepreneur young people can learn from.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about the real-life applications of blockchain technology and innovations to drive mainstream acceptance and global integration of emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based sites and media. Benjamin Godfrey is a lover of sports and agriculture.
