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 ✊🏿”.

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

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.

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

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