African-American billionaire and rapper Shawn “Jay-Z” Carter, has seen his net worth significantly increase as a result of a recent revaluation of his assets, which include investments in technology and spirits companies.
His fortune has now surpassed $2.5 billion, placing him on an equal footing with “The Queen of Talk,” Oprah Winfrey, who is also worth $2.5 billion.
According to Forbes, Jay-Z, who ranks as the first hip-hop billionaire, experienced a staggering $1.2 billion surge in his net worth, from $1.3 billion to $2.5 billion. This solidified his position as one of the world’s wealthiest Black billionaires.
Just shy of a month since he sold a 50-percent stake in the high-end cognac label, D’Usse, to Bacardi Limited – one of the world’s largest privately owned spirit companies – Jay-Z has seen a significant boost in his net worth.
The deal, which was valued at $750 million, contributed to the recent surge in wealth.
The sale of the stake resulted in Jay-Z becoming a minority shareholder in the cognac brand. However, the transaction was not without controversy, as the rapper engaged in a contentious legal battle with Bacardi, expressing concerns over the lack of financial transparency and insisting that the company open up its books and other records.
Although the details of the transaction have not been disclosed, sources have confirmed that the value of the stake sold by Jay-Z may exceed $750 million.
This is due to the fact that Jay-Z had previously valued D’Usse at $3 billion, which would suggest that his 50 percent stake would be worth $1.5 billion.
In 2019, Jay-Z became hip-hop’s first billionaire due to his diverse range of investments, which included stakes in technology companies, art collections, expansive real estate holdings, and liquor brands such as D’Usse.
In February 2021, Jay-Z’s fortune experienced a boost of $300 million after Moet Hennessy Louis Vuitton (LVMH) purchased a 50-percent stake in his champagne brand, Armand de Brignac, also known as the “Ace of Spades.”
In the same year, Square, a U.S. mobile payments company, acquired a majority stake in his music streaming platform, Tidal, resulting in Jay-Z receiving $297 million in cash and stock.
Presently valued at $2.5 billion, Jay-Z’s net worth consists of various investments, including a stake in Roc Nation, a well-known entertainment company, as well as equity positions in Armand de Brignac champagne and D’Usse cognac. He also owns a fine art collection.