Jay-Z, worth $2.5 Billion at 54.
His "monogram" weed brand only adds to his list of business achievements.
What do you buy the man who has 2.5 billion in the bank?? This is the dilemma Beyonce faced today as his husband Jay Z turns 54 today. A somewhat newcomer to the weed world with his "monogram" brand launched two years ago, he has still been successful. He adds this business to his impressive list of achievements. But how did he go from growing up in a housing project in Brooklyn and spending some years on the wrong side of the law to becoming the wealthiest guy in hip-hop? Let's have a look.
"The burden of poverty isn't just that you don't always have the necessary things. It's the feeling of embarrassment every day, and you'd do anything to lift that burden."
Shawn Carter, AKA Jay-Z, did precisely that when he founded Roc-A-Fella Records in 1995 with Damon Dash and Kareem Burke after being unable to sign a major record label. A year later, his debut album "Reasonable Doubt" turned the rapper into a rising star.
After "Reasonable Doubt," Jay-Z had a real run of success.
In 1999, he won a Grammy for the best rap album that year, "Vol. 2... Hard Knock Life." He then went on to enjoy plenty of chart-topping success over the decades, wisely purchasing the master and publishing rights to his music catalogue in 2004, a move that made him an estimated $75 million.
He launched the Rocawear clothing line in 1999; the brand was an instant hit among fans and became a leading hip-hop fashion brand in the late 1990s. In 2007, Jay-Z sold the company for $204 million when Rocawear had over $700 million in annual sales.
He bought a stake in the Brooklyn Nets in 2003. Then, in 2013, to start the sports agency Roc Nation Sports.
"Our newest endeavour is committed to building the brands of professional athletes as we have done for some of today's top music artists," he said.
In 2015, Jay-Z bought "Tidal", the music service that would go on to compete with Apple and Spotify. In 2021, Tidal was sold to the payment platform company Square for $297 million.
Jay Z has also made millions from his liquor brands Armand de Brignac and D'Usse. In 2014, he bought Armand de Brignac, the champagne brand; in 2021, he sold 50% of his stake to "Moët Hennessy".Â
While he still owns his D'ussé Cognac brand, Barcardi purchased a majority stake in it this year that was worth about $750 million.
In 2017, Jay-Z signed a $200 million deal with Live Nation, which worked with his entertainment label, Roc Nation. In 2019, it partnered with the NFL on entertainment, including its Super Bowl halftime shows and acclaimed performances from artists including Dr. Dre, Snoop and Rihanna.
JayZ was also an early investor in JetSmarter; this startup company allows people to rent private jets like they would an Uber. The company was purchased in 2019 and merged into XOJET.Â
Jay Z also has his luxury cannabis brand called Monogram, which features investors such as Rihanna, Meek Mill, and DJ Khaled. In 2019, Forbes named Jay-Z the first-ever hip-hop billionaire, and in 2023, his net worth hit $2.5 billion and is still on the rise. One can only wonder, what's next?
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Liz Filmer
