JAY-Z’s net worth increases by 40 percent following LVMH and Square, Inc. deals
The entrepreneur’s net worth has gone from $1 billion to $1.4 billion.
JAY-Z’s money-making moves have increased his net worth by 40 percent. According to Forbes, the businessman is now worth $1.4 billion following his recently-announced deals with Square, Inc. and LVMH.
In late February, JAY sold 50 percent of his Armand de Brignac champagne to Moët Hennessy. Forbes valued the brand at approximately $640 million, meaning the Roc Nation mogul earned $320 million from the move.
Days later, the Brooklyn entrepreneur returned to Twitter to announce his partnership with the platform’s cofounder, Jack Dorsey, revealing he sold a majority of TIDAL to Dorsey’s Square, Inc. for a combination of cash and $297 million worth of stock.
Per the terms of the agreement, JAY will continue to serve as a board member at TIDAL, which will now operate alongside Cash App and Seller. He will also join Square’s Board of Directors.
Since getting his start in music, JAY has grown into quite the businessman, expanding into the technology, cognac, fashion and art sectors to name a few. In addition to his lucrative deals with Square and LVMH, Forbes reported that the “Show Me What You Got” emcee earned $140 million USD from his Roc Nation imprint, $120 million USD from his D’Usse cognac brand and $95 million USD from his 300 song-music catalog, for which he owns both the publishing rights and master recordings.
Additonally, JAY’s art collection — which features works by Damian Hirst, David Hammons and Richard Prince — is valued at $70 million USD. The rapper also owns about $50 million USD worth of real estate property and has $425 million USD in cash and investments, including stakes in Uber, Sweetgreen, Ethos and SpaceX.
Though hip hop’s first billionaire already surpassed $1 billion in net worth, the emcee isn’t solely focused on making money. JAY spends a lot of time working to help the Black community via his REFORM Alliance and multiple charitable efforts.
YOU MIGHT ALSO LIKE
YOU MIGHT ALSO LIKE
JAY-Z speaks on Grammys '4:44' snub in 2018
B. Simone vs. Desi Banks | 'Receipts'
On this episode of “Receipts,” Desi Banks puts his friendship with comedian and entrepreneur B. Simone to the test when they battle it out to guess contestant Darrius’ hidden talent. Presented by Walmart.
Desi Banks vs. Eric Bellinger | 'Receipts'
Get ready for “Receipts,” the all-new game show brought to you by REVOLT and Walmart where contestants battle it out to reveal a Black and Unlimited shopper’s hidden talent from clues on their shopping receipt! For the premiere, host Desi Banks goes three rounds with the one and only Eric Bellinger. Watch!
B. Simone and Desi Banks go head-to-head on “Receipts” game show
After a few pleasantries, Desi Banks and B. Simone dived right into the first round of gameplay – and it was hilarious from beginning to end.
Eric Bellinger stars in premiere episode of REVOLT’s new game show “Receipts”
REVOLT and Walmart are spotlighting everyday Black shoppers with unexpected talents on the new show.