Forbes has named American music Business Mogul, Jay–Z Shawn Carter, as the richest musician in the world.
The rapper is now the first rapper to become a billionaire.
“It’s clear that Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the first hip-hop artist to do so,” Forbes said.
Forbes’ breakdown indicated that the rapper’s chief source of wealth is his $300-a-bottle Armand de Brignac champagne brand (at $310 million), but also boasts of investments at well over $200 million (including a large stake in Uber).
Forbes said the reason Jay-Z’s wealth went all up on the table is his new business interest in alcohol.
His streaming service, Tidal allegedly supplies about $100 million of his net worth, just behind his cognac D’Ussé.
Jay-Z recently gave a special performance to celebrate the re-opening of the celebrated NYC venue Webster Hall.
He and his wife Beyoncé were the recipients of the Vanguard Prize at the GLAAD Awards in March.