Music Mogul, Shawn Carter, popularly known as Jay-Z is now the first hip-hop star to become a billionaire, according to Forbes.
The 49-year-old musician reached the milestone thanks to business interests in fashion, a sports management company and a stake in the ride-hailing app, Uber, the magazine said.
Jay-Z, who is married to pop star Beyonce, is also a part owner of the streaming service Tidal, another source of income on top of his chart-topping music.
It means his net worth “conservatively totals” $1 billion, about £789 million, Forbes reports.
The magazine said “It’s clear that Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire and the first hip-hop artist to do so,”
Forbes breakdown indicated that the rapper’s chief source of wealth is his $300-a-bottle Armand de Brignac champagne brand (at $310 million), but also boasts investments at well over $200 million (including a large stake in Uber).
Jay-Z, recently gave a special performance to celebrate the re-opening of the celebrated NYC venue Webster Hall.