Written By Aysha Chaudhry
“What better than one billionaire?” Jay-Z spoke his fate into existence when Forbes announced on June 3rd that the rapper turned business mogul had officially surpassed $1 billion in net worth.
Jay-Z’s success did not happen quickly nor easily. After starting his rap career at the young age of 26, Jay began investing the money he made from music into profitable ventures. What made him stand out from his peers at that time is that he chose to start his own businesses, rather than just seeking partnerships from larger entities. Some of his most notable brands includes Rocawear, the clothing that was wildly popular in the ‘00s, and D’usse, a liquor brand he co-owns with spirits company Bacardi. After these big wins, he continued to propel forward, diversifying his assets further by purchasing minority stakes in companies, investing in real estate, and even launching the music streaming platform, Tidal.
While Jay-Z is an inspiration for many, he has specifically paved a way for artists of color. Music moguls, Kanye West and Rihanna, are among two of his protegés, and Rihanna made the list herself as the first female musician to surpass a net worth of $600 million. His wife, Beyoncé, is also worth an impressive $400 million. Coincidence? I think not.
Jay-Z’s legacy will forever be bigger than just himself, as he set a new Blueprint for those to follow.