Jay-Z’s net worth in 2021 stands at US $1.4 billion and counting!
It’s no longer a hard knock life for hip-hop’s first billionaire, who has confirmed lucrative deals in February and March with two major companies. In addition to selling 50 per cent of his champagne brand to LVMH, Jay-Z sold a majority stake of Tidal to Square. In the span of mere weeks, Jay-Z’s net worth has jumped 40 per cent up to US$1.4 billion.
Jay Z is quite modest about his fortune and quick to attribute his success to other people including his teams and business collaborators.
“I’m very fortunate. Jack Dorsey, who created Twitter, Square and Cash App, and Philippe [Schaus] and the guys who created LVMH – you couldn’t ask for better partners; they’re the top of the top,” Jay Z says.
“[Things] usually align like that when people do really great things. You could get into partnerships and people short-change the business for different reasons. These guys don’t cut corners, they try to get it right. It’s about respect.”
Jay-Z’s champagne brand, also known as Ace of Spades, sold more than half a million bottles in 2019, not a bad feat for a company launched in 2006, a relative newcomer in a world steeped in centuries-old tradition and maisons.
“We ran this brand from the office with eight or nine people, a really small, scrappy group,” Jay-Z says. “We became very successful and we’ve always looked at LVMH as the pinnacle of what we represent, a group that creates things based on their love of luxury, of getting the details perfectly correct. If I’m going to be in a partnership, especially with a brand that’s so successful, it has to enhance the brand, it can’t hinder it.”
“To calculate his net worth, we looked at the artist’s stakes in companies like Armand de Brignac champagne, applying our customary discount to private firms. (He owns 100% of Armand de Brignac and has partial ownership of the other companies.) Then added up his income, subtracting a healthy amount to account for a superstar lifestyle. We checked our numbers with a roster of outside experts to ensure these estimates were fair and conservative. Turns out, Jay-Z really is a business, man.” FORBES
Here is a list of Jay-Z assets and their relevant worth :
Armand de Brignac – $310 million
“Ace of Spades” champagne is reportedly worth a half-billion-dollar .
Cash & investments – $220 million
A vast investing portfolio includes a stake in Uber worth an estimated $70 million.
D’Ussé – $100 million
Jay-Z’s cognac, a joint venture with beverage giant Bacardi, moves almost 200,000 cases and has grown nearly 80% annually.
Tidal – $100 million
Roc Nation – $75 million
Entertainment company started over a decade ago as part of a joint venture with concert giant Live Nation.
Music catalog – $75 million
His hits now clock close to 1 billion streams annually.
Art collection – $70 million
Jay Z owns some of the most famous painters like Basquiat
Real estate – $50 million
After welcoming twins in 2017, Jay-Z and Beyoncé bought a pair of homes to match: a $26 million East Hampton mansion and a $88 million Bel Air estate. Jay-Z also owns a Tribeca penthouse, snagged for $6.85 million in 2004.
Sources : FORBES