JAY-Z EMERGES FIRST BILLIONAIRE RAPPER
Afnews Editor
Jun 03, 2019
Forbes has named American music mogul, Jay-Z, as the richest musician in the world.
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The rapper is now the first rapper to become a billionaire.
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"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,ÔÇØ Forbes said.
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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).
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Forbes said the reason Jay-Z's wealth went all up on the table is his new business interest in alcohol.
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His streaming service, Tidal allegedly supplies about $100 million of his net worth, just behind his cognac D'Uss├®.
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Jay-Z recently gave a special performance to celebrate the re-opening of the celebrated NYC venue Webster Hall.
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He and wife Beyonc├® were recipients of the Vanguard Prize at the GLAAD Awards in March.
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— Afnews Editor