Jay-Z’s Net Worth Went Up 40 Percent In 2 Weeks, Now Reportedly Worth $1.4 Billion
It’s a good time to be Jay-Z!
The rapper, entrepreneur, and hip-hop’s first billionaire saw a 40 percent boost in his net worth just over the last two weeks thanks to a couple of major deals. He’s now reportedly worth $1.4 billion.
As previously reported, Jay-Z sold a majority stake of his streaming platform TIDAL to Jack Dorsey’s Square, Inc. for $297 million earlier this week. The sale doesn’t impact artist shareholders and their stakes. Jay-Z will also still own a portion of the company.
He said of the deal,
“I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey. Jack and I have had many discussions about TIDAL’s endless possibilities that have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board. This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!”
But that wasn’t the first deal Jay-Z closed this year. He also reportedly made more than $300 million when he sold half of his Armand de Brignac champagne (also known as Ace of Spades) to LVMH Moët Hennessy last month. The company reportedly purchased it for $640 million.
Jay-Z also has stakes in major brands like Uber and Square, salad franchise company Sweetgreen, insurance company Ethos, and SpaceX, founded by Elon Musk. He also invested in oat milk brand Oatly last June.
His net worth includes his Roc Nation company, real estate that is worth $50 million, and an extensive library valued at $95 million.
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