Jay Z has been named as hip-hop’s first billionaire in a new cover story by Forbes Magazine.
Titled ‘Artist, Icon, Billionaire: How Jay Z Created His $1 Billion Fortune’, the Forbes story analyses how Hov has accumulated a staggering $1 billion.
According to Forbes, Jay Z’s fortune – which is compiled of investments in alcohol companies, art collections, real estate, his record label, music catalogue and more – “conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire – and the first hip-hop artist to do so”.
Many have assumed Dr Dre was the first hip-hop star to become a billionaire when he announced he sold his Beats headphone brand to Apple for $3 billion back in 2015. However, his company is worth billions but his his net worth currently stands at $850 million.
Jay Z has reached many milestones in his lengthy career, with one of his most recent achievements coming in the form of receiving this year’s NAACP’s President’s Award.
Click here to read the full Forbes cover story.