JAY-Z is officially a billionaire.
On Monday (June 3), Forbes confirmed the influential rapper's billionaire status by calculating his stakes in companies like Armand de Brignac champagne and D'Ussé cognac. The business magazine applied a "customary discount to private firms" and a "healthy" subtraction to account for JAY-Z's "superstar lifestyle" before tallying his income.
The publication reportedly vetted their findings with "a roster of outside experts" to assure their estimates were "fair and conservative." As it turns out, JAY-Z's business dealings, which span from music, real estate, and a stake in Uber worth an estimated $70 million, "conservatively totals $1 billion." The confirmation makes the beloved emcee hip hop's first billionaire.
In addition to his ownership of Tidal streaming service ($100 million) and his Roc Nation company ($75 million), JAY-Z reportedly earns $220 million in cash and investments. Meanwhile, his wife Beyoncé is securing the bag as well. Forbes reported the singer has a net worth of $355 million in July 2018.
In 2017, JAY-Z predicted he would be the first to reach the milestone among his hip hop peers. "Uh, we gon' reach a billi' first," the 49-year-old declared on "Family Feud" from his critically acclaimed album 4:44. Looks like the prophecy came true. Congrats JAY-Z!
Keep reading for a breakdown of his financial earnings and read Forbes cover story in full here.
Armand de Brignac champagne
Cash and investments, including a stake in Uber worth an estimated $70 million
Tidal streaming service