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Jay-Z becomes first billionaire rapper, report says

Jay-Z, whose real name is Shawn Carter, becomes the fifth African American in the country to be a billionaire.

Jay-Z performs on the 4:44 Tour at Barclays Center on Sunday, Nov. 26, 2017, in Brooklyn, New York.
Jay-Z performs on the 4:44 Tour at Barclays Center on Sunday, Nov. 26, 2017, in Brooklyn, New York.
Scott Roth, Invision/Associated Press

SALT LAKE CITY — Jay-Z has become the first billionaire rapper, according to Forbes, beating out Sean "P. Diddy" Combs, Andre “Dr. Dre” Young and others.

  • "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," according to Forbes.

Jay-Z, whose real name is Shawn Carter, owns a number of businesses and has a stake in others, including:

  • $70 million stake in Uber
  • $70 million art collection
  • $50 million in real estate holdings and music catalog
  • Ownership of Tidal, a streaming music service
  • Ownership of Roc Nation sports management company.

Jay-Z is also married to Beyoncé, who is worth $355 million by her own right, according to CNN.

Jay-Z began as a drug dealer before he became a musician, Forbes reports. He eventually started his own label called Roc-A-Fella Records so he could release his 1996 debut album, “Reasonable Doubt.”

Jay-Z has gone on to earn 14 No. 1 albums, 22 Grammy Awards and more than $500 million — before taxes, according to Forbes.

Jay-Z’s billionaire standing makes him the fifth African American in the country to be a billionaire, according to Black Enterprise. Other black billionaires include Robert F. Smith, Oprah Winfrey, Michael Jordan and David Steward.