Jay-Z is loved by many people all around the world and his music continues to be chart-toppers. Jay is also interested in fields other than hip-hop, but his first love will always be music. Hov is the richest rapper in the world and he has now increased the gap as his net worth is now worth more than $2 billion.
According to a “real-time” update by Forbes, JAY-Z’s net worth is currently estimated to be around $2.5 billion. This places him at 1,203 on Forbes’ list of the world’s richest people in the world right now.
Despite this remarkable achievement, JAY-Z’s net worth is way less compared to French business magnate Bernard Arnault, CEO of LVMH Moët Hennessy Louis Vuitton, who has a net worth of $216.1 billion.
If Forbes’ estimated net worth for JAY-Z is accurate, it means that his net worth has almost doubled since last year when it was reportedly $1.4 billion. Although the publication has not yet revealed the reason behind this substantial increase, it is highly likely that it is due to the recent sale of JAY-Z’s controlling stake in his D’USSÉ cognac brand.
In February of this year, Bacardi, the parent company of D’USSÉ, agreed to purchase JAY-Z’s 50 percent stake in the company for a whopping $750 million. Despite the sale, the rapper still retained a “significant ownership stake” in the liquor company. The deal came after a heated legal battle between Bacardi and JAY-Z, making it a significant achievement for the rapper turned business mogul.
Jay-Z is a smart businessman and the results speak for themselves. He has his hands in many lucrative projects, including the creation of his own record label, Roc Nation, and the acquisition of TIDAL, a music streaming platform. Stay tuned with Thirsty For News for more news related to your favorite stars.
What’s your take on Jay-Z? Are you glad he is so rich? Sound off in the comments!