African-American businessman and hip-hop’s first billionaire, Sean Carter aka Jay-Z
Grammy Award-winning comedian Dave Chappelle has revealed that Jay-Z, the African-American businessman and hip-hop’s first billionaire, has made some investments in properties in Ghana.
According to a report by GhanaWeb, Chappelle made the disclosure at a private event at the University of Ghana, saying that Jay-Z showed him pictures of the properties when he informed him about his plans to visit Ghana.
His investments in Ghana demonstrate a willingness to expand his portfolio and potentially tap into new markets, as Ghana, despite its recent macroeconomic issues, has a growing economy that has returned impressive gains to international investors in recent years.
In addition to its natural resources, the country has a young, educated population and a stable democratic government, making it an attractive location for investment.
The recent move by the African-American businessman and multi-industry creative comes after he expressed interest in bidding for the Commanders, a professional American football team based in the Washington metropolitan area.
Despite experiencing a $100 million decline in his net worth in 2022, Jay-Z still has a net worth of $1.3 billion, making him the world’s 2,128th richest man, according to Forbes.
In February 2021, Moet Hennessy Louis Vuitton (LVMH) acquired a 50 percent stake in his champagne brand, Armand de Brignac, leading to an increase of $300 million in Jay-Z’s fortune.
In addition to the sale of a 50 percent stake in Armand de Brignac, also known as the “Ace of Spades,” Jay-Z received $297 million in cash and stock from Square, a U.S. mobile payments company, in exchange for a majority stake in his music streaming platform, Tidal.
Jay-Z’s current $1.3 billion fortune includes a stake in the entertainment company Roc Nation, investments in the Armand de Brignac champagne and D’Usse cognac brands, a fine art collection, and an equity position in Square.