Jay-Z is much more than a rapper or a businessman. He’s a business, man! While fans have mostly flocked to him for the music, Shawn Carter has shown that he has a keen business sense throughout his career.
Despite many years as a beloved rapper and respected mogul, Jay has found himself in some hot water recently. On December 8, one of Diddy’s accusers named the rapper in a civil lawsuit, claiming that Jay raped her when she was 13 years old.
Jay released a statement, denying the allegations and promising to fight them. He claimed that the lawsuit was a “blackmail attempt” against him.
“These allegations are so heinous in nature that I implore you to file a criminal complaint, not a civil one!! Whomever would commit such a crime against a minor should be locked away, would you not agree?” he said in a statement on social media.
“I’m not from your world. I’m a young man who made it out of the project of Brooklyn,” he said. “We have very strict codes and honor. We protect children, you seem to exploit people for personal gain.”
Diddy has also denied the allegations.
Aside from the legal battle, fans are well aware that the “Encore” rapper has made a lot of money over the years. Find out how much Jay-Z is worth here.
What Is Jay-Z’s Net Worth?
Jay actually has the highest net worth out of all billionaire musicians. He is worth $2.5 billion according to Forbes, and that doesn’t even account for his wife Beyonce’s net worth.
On Forbes‘ 2024 list of celebrity billionaires, Jay is ranked fifth behind Oprah Winfrey, Michael Jordan, Steven Spielberg, and George Lucas.
The two other musicians to make the list were Rihanna, who has a $1.4 billion net worth, and Taylor Swift, who has a $1.1 billion net worth.
How Did Jay-Z Make His Money?
Of course, Jay made a name for himself as a rapper. He has tons of classic records, like The Black Album, The Blueprint, and Watch The Throne. He’s also performed sold-out concerts and toured across the globe.
Even though everyone knows hits like “99 Problems” or “Empire State of Mind,” Jay’s net worth is actually a result of his entrepreneurial ventures. Notably, he founded the entertainment company Roc Nation in 2008, and he’s had many other major business deals.
In the past four years, Jay has made over $1 billion from sales of two of his alcohol brands, according to Forbes. He sold a 50% stake in Armand de Brignac, his champagne brand, in 2021. Also, he sold a majority stake in his cognac label D’Usse to Bacardi in 2023.
