Entertainment News Today Headlines: Diddy Reacts As Jay-Z Becomes Hip-hop’s First Billionaire

Celebrity News And Gossip: Diddy Reacts As Jay-Z Becomes Hip-hop’s First Billionaire

According to Forbes, Jay-Z is now hip-hop’s first billionaire with an estimated net worth at more than $1 billion (€890 million). Even his wife, Beyonce, has an estimated net worth of $355 million. The US magazine wrote that the musician-turned-businessman is one of “only a handful of entertainers to become a billionaire — and the first hip-hop artist to do so.” While reacting to this, Diddy shared a photo of himself with the “99 Problems” rapper with the caption, “So proud of my brother 🖤 JAY Z LOVE ✊🏿”.

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Jay-Z Becomes Hip-hop's First Billionaire

Meanwhile, Forbes estimated Jaz-Z’s fortune “conservatively totals $1 billion.” The global media company wrote that the key to Jay-Z’s success is that he has built brands instead of promoting others. They calculated Jay-Z’s net worth by adding his stakes in companies and income, then subtracted “a healthy amount to account for a superstar lifestyle.”

Jay-Z’s assets include:

Cash and investments of $220 million, including a $70 million stake in Uber

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Stakes in Armand de Brignac champagne and D’Usse cognac, valued at $410 million

A $100 million stake in streaming service Tidal

A music catalogue and entertainment company worth an estimated $150 million

Property in Los Angeles and New York

An art collection worth $70 million.

In addition to Jay-Z’s penthouse in New York’s Tribeca neighborhood, he and wife, Beyonce, own mansions in East Hampton, New York and Los Angeles’ Bel Air.

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Even Dr Dre sold his headphones and speaker company, Beats by Dre, to Apple for $3 billion in 2014 but he isn’t yet a billionaire. Forbes estimates his worth at $770 million.

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Urban News: Diddy Reacts As Jay-Z Becomes Hip-hop’s First Billionaire

Chike Ezegbu5610 Posts

Chike Ezegbu is a blogger with an Information Technology background. He is a prolific writer and is fearless in his approach to dishing out information while maintaining high professionalism. He is regarded as both a lover and a fighter.


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