(MENAFN) Forbes Real Time Billionaires index has reported that Jay-Z's net worth has more than doubled to $2.5 billion. The rapper, who became the world's first billionaire rapper in 2019, earned millions from his Armand de Brignac and D'Usse beverage brands, despite a year without a tour or album release.
Jay-Z, whose real name is Shawn Carter, is the 1,210th-wealthiest person on the planet, according to Forbes. The 24-time Grammy award winner's active investments include entertainment company Roc Nation, which he founded in 2008. He co-founded US clothing brand Rocawear with Damon Dash in 1999 and sold it to Iconix Brand Group in 2007 for a reported $204 million. He still maintains a small stake in Rocawear today and is involved in the brand's marketing, development, and licensing, according to wealth tracker Celebrity Net Worth.
Aside from his business ventures, Jay-Z and his wife Beyonce co-own a fine art collection worth about $150 million and a multimillion-dollar property portfolio. This includes a $26 million home in East Hampton, New York, an $88 million estate in Bel Air, California, and a $6.8 million penthouse in New York.
Jay-Z is known for his investment strategy and once compared music to stocks, stating that people tend to make emotional decisions based on what's hot at the moment, rather than sticking with what they know. He has invested in various companies, including ride-sharing app Uber and Elon Musk's SpaceX. In 2021, he sold a 50% stake of Armand de Brignac to luxury retailer LVMH at a $640 million valuation and music streaming service Tidal to Twitter co-founder Jack Dorsey's Square for $300 million.
Jay-Z's business empire continues to grow, and with it, his net worth. He has proven that he is not only a talented musician but also a savvy businessman with a keen eye for investments. As he continues to invest in various industries, his net worth is expected to grow even further.
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