Key Takeaways
- Superstar rapper and entrepreneur Jay-Z has a net worth of $2.5 billion as of November 2023, according to Forbes.
- Jay-Z became the first billionaire rapper in 2019 and has amassed his wealth over the years through his music and successful business ventures, such as his liquor brands.
- In 2023, Jay-Z and Beyoncé bought the most expensive home ever sold in California, a 40,000-square-foot property in Malibu that they bought for $200 million.
Billionaire rapper, investor, and entrepreneur Jay-Z sat down with CBS Mornings’ co-host, Gayle King, in a rare interview that aired on CBS last week.
In the hour-long primetime interview, Jay-Z and King take a tour of The Book of HOV exhibit at the Brooklyn Public Library that honors the rapper and his illustrious career.
If there’s one thing the billionaire knows how to do well, it’s how to spot a good deal. When King asked Jay-Z to settle a social media debate that asked fans to decide between taking $500,000 cash or having dinner with him, he replied, “You gotta take the money…. I wouldn’t tell you to cut a bad deal.”
As of November 2023, Jay-Z has a net worth of $2.5 billion, according to Forbes. Together, Jay-Z and his superstar wife Beyoncé have a combined net worth of about $3 billion.
The rapper became the first billionaire rapper in 2019 and has amassed his wealth over the years through his music and a series of successful business ventures that made him millions.
Here’s how hip-hop’s first billionaire made his fortune.
Music
Jay-Z’s rise to fame and fortune began with his successful career as a rapper.
Jay-Z is the first Black male artist to have 10 multi-platinum albums, a certification given to albums that have sold more than 2 million copies each. The rapper has released 13 solo studio albums and sold about 33.5 million copies in total.
He is the most-nominated artist in Grammy history—a title he shares with his wife, Beyoncé. The pair has 88 Grammy nominations each.
His music catalog is worth an estimated $75 million, according to Forbes—and he owns the masters and publishing rights to his works. His first album was Reasonable Doubt, released in 1996, and his most recent album, 4:44 was released in 2017.
In 2017, Jay-Z signed a 10-year, $200 million touring partnership with Live Nation, one of the biggest entertainment companies in the world.
Businesses and Investments
In addition to his iconic career as an artist, Jay-Z has come to be known as a top entrepreneur and investor.
His cash and investments are worth an estimated $200 million (as of 2019) and include a stake in Uber. The rapper has also founded multiple companies and liquor brands that have made him millions of dollars.
For instance, in 2007, Rocawear (a clothing brand co-founded by Jay-Z) was bought by Iconix Brand Group for over $204 million in cash, according to The New York Times. At the time, Rocawear was bringing in more than $700 million in annual sales.
Liquor Brands
Many celebrities from Ryan Reynolds to Matthew McConaughey have gotten into the liquor business and made millions from it, and Jay-Z is no exception.
Jay-Z bought premium champagne brand, Armand de Brignac in 2014. In 2021, luxury conglomerate LVMH bought a 50% stake in the brand. The brand’s Ace of Spades champagne sells for $300 a bottle. The rapper still owns the remaining 50% of the brand.
Jay-Z also founded his own liquor brand, luxury cognac D’Usse. In 2023, the beverage company Bacardi bought a majority stake in D’Usse worth $750 million, according to Variety.
Roc Nation
Roc Nation is an entertainment company founded by Jay-Z that has a record label, talent management, sports, publishing, and distribution sections. Some of the label’s biggest clients across entertainment and sports include Rihanna, Shakira, and Kyrie Irving among many others.
Roc Nation has been in a partnership with the NFL since 2019 as the football league’s official live music entertainment strategist. In 2022, Jay-Z won an Emmy for his production of the Super Bowl Halftime Show.
Tidal
In 2015, Jay-Z bought music streaming service Tidal, for $56 million. Jay-Z even removed most of his music from the streaming service Spotify and moved it to Tidal with the idea of having exclusive music available on Tidal.
The streaming service marketed itself as having better sound quality and better compensation for artists who use the platform to host their music. It had backing from artists including Beyoncé, Kanye West, and Calvin Harris.
In 2021, former Twitter CEO Jack Dorsey bought the streaming service (which did not do as well as expected), for an estimated $297 million.
Art & Real Estate
The rapper also owns islands, a costly art collection, and sprawling properties in New York and Los Angeles.
His art collection is worth an estimated $70 million as of 2019 and includes a piece by Jean-Michael Basquiat, which he bought for an estimated $4.5 million in 2013.
Jay-Z and Beyoncé also own multi-million dollar properties across the country. In 2023, the couple bought the most expensive home ever sold in California, a 40,000-square-foot property in Malibu that they bought for $200 million, according to People.
Jay-Z also owns properties in East Hampton, New York, and a penthouse in Tribeca.
