DJ Khaled is thriving in his entrepreneur bag as he takes the cover of Variety magazine.

On Wednesday (June 21), the Grammy Award-winning producer and the publication revealed Khaled as its Music Mogul of the Year. The honor comes after decades of the Louisiana native’s contribution to the industry, specifically hip hop.

The accomplished 47-year-old artist and producer has established a one-of-kind resumé that includes records with JAY-Z, Beyoncé, Rihanna, Drake, Lil Wayne, and more. “Music Mogul of the Year cover,” Khaled captioned his Instagram post. “Thank you, Variety, for this amazing cover and honor! Mogul of the Year! Win with us, or watch us win! ‘We The Best’ all categories.”

When speaking of the “Another One” businessman, fellow mogul JAY-Z said, “Khaled shines a light of positive energy into every room he enters. His exuberance and sheer ambition are infectious. His support of artists, athletes, and philanthropic initiatives inspires all to reach and believe in heights previously thought impossible.”

Despite his awards and chart-topping hits like “Wild Thoughts,” Khaled informed the outlet that his success doesn’t define him. Instead, his family does. The Miami resident is married to Nicole Tuck, with whom he shares two sons: Asahd and Aalam. During his interview with Variety, the “I Got the Keys” songwriter shared some advice from JAY-Z about kids and life.

“[He] told me, ‘Wait till you have a kid — that’s when life really starts.’ And as soon as my kids were born, my life changed. Not just these blessings, but also my mentality. Money doesn’t define success,” Khaled noted. “Money doesn’t define being a mogul. To me, true success is being happy.”

When asked his definition of a mogul, Khaled responded, “A person that broke down every barrier to get to live their dream and accomplished their goal even when the door was closed on them, and people said it’s not possible.”