Billionaire rapper Jay-Z, whose real name is Shawn Carter, continues to make waves in the business world as he builds upon his $2.5 billion fortune at 53 years old.
Recognized as one of Forbes’ real-time billionaires in 2023, Jay-Z has diversified his portfolio with a range of assets, both within and beyond the music industry.
One notable venture is his potential bid for Tottenham Hotspur, with rumors swirling about the possibility of acquiring the football club from current owner Joe Lewis, who faces insider trading charges and has amassed an impressive fortune of over £5 billion through currency trading.
Nairametrics takes a closer look at some of the major assets that the billionaire rapper owns worldwide
1. Armand de Brignac (Ace of Spades): Jay-Z’s music platform has proven to be a powerful promotional tool for the luxurious “Ace of Spades” champagne, featuring its iconic $300 gold bottles.
He introduced the brand in the 2006 music video “Show Me What You Got.” In 2021, giant LVMH purchased a 50% stake in his champagne empire Armand de Brignac, otherwise known as Ace of Spades.
2. Flowhub: In 2021, Jay-Z invested $19 million in Flowhub, a Denver-based cannabis point-of-sale software company.
Founded by Kyle Sherman, Flowhub offers invaluable assistance to marijuana dispensaries, enabling smooth sales transactions, efficient inventory management, detailed analytics tracking, and more, thereby catering to the thriving cannabis industry.
3. Oatly: Jay-Z teamed up with renowned Hollywood figures Oprah and Natalie Portman in a substantial $200 million investment in Oatly, a Swedish plant-based milk company known for its range of milk, creamers, and ice cream products.
Since its introduction to the United States in 2016, Oatly has experienced soaring popularity. Its successful U.S. initial public offering in 2021 raised a staggering $1.4 billion, solidifying its position as a major player in the flourishing plant-based market.
4. Tidal: In 2016, Jay-Z, alongside his wife Beyoncé and Rihanna, made headlines by acquiring the music streaming service Tidal for $56 million.
Two years later, he sold 33% of the platform to Sprint through a merger, and in 2021, he sold his remaining stake to Jack Dorsey, the owner of Square and former CEO of Twitter, for a reported $302 million.
5. Uber: Jay-Z demonstrated his keen business acumen by investing $2 million in Uber back in 2013. Since then, Uber’s valuation has skyrocketed to about $97.43 billion, proving to be an astute and profitable venture for the visionary rapper according to Forbes.
6. Roc Nation: Over a decade ago, Jay-Z co-founded Roc Nation, a multifaceted entertainment company, as a joint venture with Live Nation.
Roc Nation represents an impressive roster of artists, including top sports stars like Kevin Durant and Todd Gurley through its sports agency, as well as renowned musicians like Rihanna and J. Cole through its record label and artist-management arms.
7. D’Ussé Cognac: Jay-Z’s cognac brand, D’Ussé, a joint venture with Bacardi, has witnessed remarkable success, with sales approaching 200,000 cases and achieving an impressive 80% annual growth rate.
The brand’s appeal to consumers seeking an ultra-premium lifestyle has been a key factor in its triumph. Jay-Z decided to sell a majority stake in the brand to Bacardi in February 2023.
8. Art Collection: An ardent art enthusiast, Jay-Z has curated an impressive collection of masterpieces, including the likes of Basquiat’s “Mecca,” which he acquired in 2013 for a reported $4.5 million.
His passion for art and its profound influence on his music has significantly contributed to raising awareness of renowned artists like Jean-Michel Basquiat within the hip-hop community.
