|Birth name||Shawn Corey Carter|
|Born on||December 4, 1969|
|Net worth||$1.4 billion|
|Source of wealth||Music, diversified|
|Education||High school, drop out|
|Residence||Los Angeles, CA|
Jay Z is an American rapper, record producer, songwriter, media mogul, and entrepreneur. He became a billionaire in 2019 and was the first billionaire in hip hop. Jay Z net worth is an estimated $1.4 billion as of March 2022. He’s currently the second wealthiest rapper in the world after Kanye West who has a fortune of $1.8 billion. Jay Z is the world’s 2142nd wealthiest individual.
Last year, Jay Z net worth grew by 40% from $1 billion to $1.4 billion after the sale of a majority stake in Tidal and a 50% stake in Ace of Spades, his brand of champagne. The billionaire makes most of his money from his business empire which includes the 40/40 sports club chain, the Roc Nation entertainment company, his brand of champagne among other ventures.
So, how did Jay Z build his $1.4 billion fortune? And how does he spend his billions? Continue reading to find out.
Related: Beyonce’s Net Worth
Early life and education
Jay Z was born in Brooklyn, New York on December 4, 1969, to Gloria Carter and Adnis Reeves. Jay Z together with his 3 siblings (Eric Carter, Michelle Carter, and Andrea Carter) was raised by his mother after their father neglected them. The rapper attended Eli Whitney High School before joining George Westinghouse Jr. High School of Career and Technical Education. The rapper also briefly attended Trenton Central High School in New Jersey before dropping out.
Jay Z was raised in Marcy Houses, a public housing complex located in Bedford-Stuyvesant, Brooklyn. His father died in 2003 but met Jay Z to reconcile with him after he abandoned the rapper and his siblings. Jay Z claims that when he was 12, he shot his elder brother in the shoulder for stealing his jewelry. He sold crack cocaine while in high school and was shot three times. The rapper developed an interest in music while still young —he used to wake up his siblings during the night while using the kitchen table like a drum.
How Jay Z made his fortune
Jay Z net worth is an estimated $1.4 billion. How did he accumulate his fortune? He owns Roc Nation, an entertainment company that he founded in 2008. Roc Nation acts as the parent company of the billionaire’s business ventures. According to the Richest, the billionaire has made atleast $80 million every year over the last decade. As of this year, he’s ranked by Forbes the 3rd highest-paid celebrity with earnings of $340 million.
In 1999 Jay Z founded Rocawear, a clothing brand that sells a wide range of products including footwear, clothing, fashion accessories, and fragrances. In 2007 the brand had sales of $700 million and by 2012 Rocawear was a €490 million clothing business. The billionaire sold the rights to the brand to Iconix Brand Group for $204 million. He however still retains his stake in the clothing retailer and continues to supervise its marketing, product development, and licensing.
Ace of spades
Jay Z owns 50% of the French Armand de Brignac brand of champagne nicknamed “Ace of Spades”. According to Forbes, the brand is valued at $600 million. The rapper first bought a 50% stake in 2006 and later acquired the other half in 2014 making him the sole owner. In 2021, he again sold a 50% stake to LVMH, a French luxury goods conglomerate for an estimated $315 million. In 2019 the brand sold 500,000 bottles with each bottle going for about $300. According to Forbes, Jay Z also owns a stake equivalent to $100 million in the D’Usse Cognac. Last year a rare bottle of D’Usse sold for $52,000 at Sotheby’s.
Roc Nation Sports
In 2013 Jay Z founded Roc Nation Sports, a sports agency that represents professional athletes in baseball, football, and basketball. The agency currently has over 100 clients across basketball, rugby, baseball, American football as well as international football. Kyrie Irving of Brooklyn Nets, Todd Gurley, and Saquon Barkley of the National Football League are some of the company’s most valuable clients.
In 2020, Roc Nation Sports was ranked the 32nd most valuable sports agency in the world by Forbes. At the time, it had contracts valued at $1.1 billion with commissions of about $28.7 million. The same year, Jay Z who’s a certified sports agent was ranked the world’s 27th most valuable sports agent.
In 2015, Jay Z paid $56 million to acquire the music streaming service Tidal. In March 2021 the rapper sold a majority stake in the platform to Jack Dorsey’s Square for $302 million. Jay Z owns the 40/40 Club, a chain of luxury sports bars and lounges. The chain was founded by the billionaire in 2003 and has operations in New York City, Brooklyn, and Atlanta. In 2020, the billionaire also launched a line of Cannabis products known as “Monogram”.
Jay-Z’s Roc Nation owns a record label that is home to artists such as J. Cole, Rihanna, Casanova, Harloe, Maeta, Rapsody among many others. Roc Nation also owns Arrive, a venture capital startup that has investments in gaming, fintech, edtech, social, health & wellness. The billionaire owns a stake equivalent to $70 million in Uber which he bought back in 2013 for $2 million. In 2013 still, Jay Z partnered with Cohiba to launch his own cigars known as Cohiba Comador. In 2015 he invested in JetSmarter; an app that helps people book private executive plane flights.
Jay Z is one of the best-selling music artists in the world having sold more than 125 million records globally. Although he does not get most of his money from music, the billionaire definitely made a lot of money from music in the course of his 30-year musical career. During his 4:44 Tour in 2017, the billionaire made $1.5 million per show. The tour grossed $48.6 million from 32 shows. His 2018 On the Run II Tour grossed $253 million from the sale of more than 2 million tickets. It was the 3rd highest-grossing tour that year.
Related: Dr Dre net worth
How does Jay Z spend his billions?
Jay Z loves chains and necklaces. One of his most expensive pieces is a $200,000 gold chain that weighs 11 pounds. You might also spot the billionaire with a Patek Philippe Grandmaster Chime 6300 G watch which costs a whopping $2.2 million. According to the richest, the billionaire has an art collection of more than $100 million. One of the most valuable pieces he owns is “Mecca” by Jean-Michel Basquiat which is worth $4.5 million.
In 2018, during the birthday of his close friend Juan OG Perez, the billionaire spent slightly more than $100,000 in a single night. During their daughter’s first birthday, the billionaire with his wife spent more than $120,000. Last year the couple chartered the Flying Fox yacht for $4 million a week for a vacation in the Mediterranean.
Jay Z has a real estate portfolio worth more than $100 million. His most expensive property is the $88 million, 30,000 square foot Bel Air mansion where the billionaire lives with his family. It has 8 bedrooms, 11 bathrooms, a spa, bulletproof windows, a cinema, 3 pools including one on the rooftop, and a basketball court. Jay Z also owns a $26 million, 12,000 square foot mansion in The Hamptons — which has 7 bedrooms, 7-and-a-half bathrooms, and a three-car garage. The billionaire owns another mansion in New Orleans, Louisiana worth $2.6 million. The 13,000 square foot property has 7 bedrooms, 8 bathrooms, and was initially a church.
Jay Z’s car collection is worth more than $50 million. He owns a $28 million Boat Tail Rolls Royce which is rumored to be the world’s most expensive car. According to Parade, “the car features a rear deck opening to reveal a dinner set, cocktail tables, matching chairs, and a parasol”. He owns a rare $1.4 million Pagani Zonda F (only 40 units were ever produced) and an $8 million Maybach Exelero. The billionaire also owns several vintage cars including a 1966 Alfa Romeo Spider that costs about $115,000 and a $150,000 57 Chevy Corvette C1. He also gifted his wife a rare $1 million Rolls Royce Silver Cloud. Jay Z also owns a $2 million Bugatti Veyron which he received as a gift from his wife.
Jay Z owns the Shawn Carter Foundation, via which he helps students experiencing socio-economic difficulties through college. In March 2020, the billionaire donated $1 million as Covid-19 relief to the state of New York. He also gave more than $100,000 masks to inmates in American prisons together with fellow rapper Meek Mill.
Related: Drake’s Net Worth
Jay Z married Beyonce on April 4, 2008, and has always kept their relationship private. Regarded as one of the most powerful couples in the world today according to work and money, Jay Z and his wife made headlines in 2009 as being the highest-earning couple in Hollywood with a combined total of $162 million. Jay Z net worth combined with that of his wife Beyonce totals about $1.8 billion. The couple keeps away from talking about their relationship. Beyonce once said that they do not “play with their relationship”. Jay Z and Beyonce welcomed their first child, Blue Ivy in 2012. In 2017, the couple welcomed their twins, Rumi and Sir.
Jay Z net worth is currently $1.4 billion. He was a drug dealer before he started a career in music. His wealth stems from music, smart investments he has made over the years in companies like Uber, Tidal, his brand of Champagne Ace of Spades as well as his entertainment company Roc Nation which is the parent company for Roc Nation Sports.
Here are a few quotes by Jay Z that could inspire you.
- “Belief in oneself and knowing who you are, I mean, that’s the foundation for everything great.”
- “I was forced to be an artist and a CEO from the beginning, so I was forced to be like a businessman because when I was trying to get a record deal, it was so hard to get a record deal on my own that it was either give up or create my own company.”
- “Excellence is being able to perform at a high level over and over again. You can hit a half-court shot once. That’s just the luck of the draw. If you consistently do it… that’s excellence.”
- “I’ve never looked at myself and said that I need to be a certain way to be around a certain sort of people. I’ve always wanted to stay true to myself, and I’ve managed to do that. People have to accept that.”
- “Successful people have a bigger fear of failure than people who’ve never done anything because if you haven’t been successful, then you don’t know how it feels to lose it all. You don’t have that fear. So why do you think people get stuck in those boxes? It’s that fear of going back down.”
- “Politics – I still think it’s a bunch of liars and a bunch of self-interest. It’s not about the people: it’s about themselves and their rise to power. They are voting on things based on whether they will have the support of the people when they vote next time. They don’t have the balls to say, ‘I believe in this. I don’t care what happens.'”
- “The burden of poverty isn’t just that you don’t always have the things you need, it’s the feeling of being embarrassed every day of your life, and you’d do anything to lift that burden.”
- “No, I’m not interested in politics. I have zero interest. I have interest in hope and people.”