In the past two weeks, the rapper has sold half of his boutique music streaming service and his champagne brand Armand de Brignac, adding a huge sum of money to his already expensive wealth.
American rapper Jay-Z at the 2018 Grammy Awards. Image source: Visual China Data Map
In 2010, when Jay-Z met billionaire investor Warren • Buffett for the first time in Omaha in 2010, Forbes was fortunate to be on the sidelines; he said at the time: “Hip Hop Music From the very beginning, it has been a member of the world, and it always breaks the idea that artists cannot care about money. ”
More than ten years later, Jay-Z, who has grown from a rapper to a billionaire, is showing the world the true meaning of this sentence: He will take a majority stake in his music streaming company Tidal for US$297 million Was sold to Square, the mobile payment company founded by Jack Dorsey, and this is his second major transaction in recent weeks. The transaction valued Tidal at approximately US$450 million, which is US$150 million higher than the valuation given by Forbes in 2019. For this transaction, "Forbes" estimated that Jay-Z made a net profit of US$149 million in cash and stocks, and obtained a seat on the company's board of directors. Earlier this week, he also repurchased a 33% stake in Tidal from T-Mobile, and then sold this part and the third part of the shares he already held. It is reported that Tidal's "artist shareholders" will continue to hold shares in the company, and Jay-Z will continue to hold a small portion of the company's shares.
A week ago, he also sold half of his high-end champagne brand Armand de Brignac to LVMH (LVMH), and the transaction valued the champagne brand at approximately US$640 million.
These two transactions raised the wealth of the first billionaire in hip-hop history from US$1 billion to the current US$1.4 billion.
And this is just the beginning. His business is diversified and growing, including the remaining 50% of the Armand de Brignac champagne brand for a $300 bottle, D’usse cognac, and a series of less attractive start-ups Companies, insurance startup Ethos and salad chain Sweetgreen. In addition, he also owns the copyright to most of his musical works, and his wife Beyoncé (Beyoncé) co-owns a multi-million-dollar mansion, and his art collection is constantly increasing.
In 2005, he wrote the prophetic lyrics: "I am not a businessman, I am a business myself, man. ”
Here is the specific composition of his wealth:
Cash and investments: US$425 million
For many years, Jay-Z has been preaching the importance of spending money wisely —— he did, and invested a large part of his estimated $760 million (pre-tax) income. His shares include Uber and Square, as well as shares in unlisted companies such as salad chain Sweetgreen, insurance startups Ethos and SpaceX. His next successful investment project may be: Oatly, an oat milk company that is expected to go public this year. According to reports, the company is struggling to seek a valuation of US$10 billion, and Jay-Z invested an unknown amount of capital in the company in July 2020.
Champagne brand Armand de Brignac: US$320 million
Last week, Jay-Z announced that he would sell half of his Champagne brand Armand de Brignac (aka “A Champagne of Spades”) to Moët · Hennessy ( Moët Hennessy). "Forbes" estimates that this transaction valued the sparkling wine brand at about US$640 million, more than twice the value in 2019, and even more than Jay-Z himself in the rapper Meek · Mill (Meek Mill) in the song "What's Free" in 2018, "500 million" (half a B) was sung.
Record company Roc Nation: US$140 million
Roc Nation is a joint venture company established by Jay-Z and Live Nation in 2008. It is a full-service entertainment company for some of the largest musicians in the industry. Licia • Case (Alicia Keys) to athlete Kyrie • Irving (Kyrie Irving) and CC• Sabathia (CC Sabathia) are the company's customers. In addition, the company is also responsible for the "Super Bowl" halftime show, the "Made in America" music festival, and even has a publishing agreement with Random House. Although the epidemic reduced the company's on-site travel business, the company's business had been growing steadily before the new crown pneumonia epidemic.
Cognac brand D’Usse: US$120 million
In 2012, Jay-Z cooperated with wine giant Bacardi to launch D’Usse. Although its retail price is usually US$30 per bottle, the 50 bottles of rare cognac (including a diamond-shaped crystal decanter) currently auctioned at Sotheby’s are estimated to be between US$24,000 and US$75,000.
Music track: US$95 million
As the number of music he composed continues to increase, the value of Jay-Z's nearly 300 song library has increased by US$20 million from two years ago. After a series of smart negotiations, he now owns both the copyright and mastering of his own music.
Art collection: US$70 million
As a fan of graffiti artist Jean-Michel Basquia, he mentioned in his song "Picasso Baby" that there is a work of the former in his kitchen. It is also reported that he bought another painting by the artist in 2013 with a huge $4.5 million. In addition, Jay-Z's art collection also includes works by artists such as Damian Hirst, David Hammons, and Richard Prince. He sees these collections as an investment. Just like what he sang in the song "The Story of OJ": "I spent 1 million to buy some works of art. Two years later, these things are worth 2 million. A few years later, these things are worth 8 million, I can't wait to pass these things to my children. ”
Real estate: US$50 million
In 2017, Jay-Z and Beyoncé bought two houses after giving birth to twins: a US$88 million Bel Air mansion and a US$26 million East Hampshire house. East Hamptons mansion. The price of their property in Los Angeles is already $5 million higher than the purchase price. However, their house now has a mortgage loan, as if to prove that the couple are still two mortals. Finally, Jay-Z also owns his own penthouse in Tribeca, which he bought in 2004 for US$6.85 million.