Jay Z is now worth R21 billion this is how he did it

news24 March 10, 2021 Jay Z 119
Jay Z is now worth R21 billion  this is how he did it

Rapper and businessman Jay Z is now worth a whooping $1.4 billion (R21.2 billion).

Jay-z and Beyonce attending Disney's The Lion King European Premiere held in Leicester Square, London Ian West - PA Images / Contributor He's got his hands in a lot of pies. He's a rapper, entrepreneur, an investor and a husband to one of the most popular musicians in the world. In 2019, Forbesnamed him hip hops first billionaire and now, Shawn Corey Carter, Jay-Z to his fans, is worth an incredible $1.4 billion (R21.2billion) as of 2021. Although the 51-year-old rapper, turned businessman, has a had a successful rap career over the years, it is not just his rhymes that garnered his enormous fortune. According to an article by Forbes Jay Z met with billionaire and American investor Warren Buffet nine years ago for dinner and the rest was history. Since that meeting Jay Z has grown his investment portfolio significantly with stakes in companies such as Uber, various sports teams, liquor brands, clothing lines and many more. A post shared by JAY-Z (@jayzz_official) The recent 40% increase in his net worth was caused by him selling the majority stake in his popular streaming service, TIDAL to Square Inc owned by Twitter CEO Jack Dorsey. According to Pitchfork as part of the deal, Jay Z will move to Squares board of directors and TIDALs artist owners will continue to co-own the platform, as the second largest group of shareholders. He sold his shares for a whopping $450 million (R6.8 billion) and will still own a small percentage of the company. He then sold half of his champagne brand Armand de Brignac, also known as Ace of Spades to LVMH, which owns Dom Prignon and Mot & Chandon. These business moves both contributed to the whopping 40% jump in his net worth. We live in a world where facts and fiction get blurred In times of uncertainty you need journalism you cantrust. For only R75 per month, you have access toa world of in-depth analyses, investigative journalism,top opinions and a range of features. Journalismstrengthens democracy. Invest in the future today. Read more

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