The Race to 10 figures
Jay-Z is steadily making moves to become hip-hop’s first bona fide billionaire. Within the last year, Jay upped his net worth by a cool $90 million, bringing his total net worth to $900 million and taking P. Diddy’s former position as the richest rapper in the world.
Jay-Z’s growing fortune is in large part due to his stakes in various business ventures, which continue to grow steadily in value. This is particularly true with his investments in D’Usse cognac and Armand de Brignac champagne, a brand more commonly known as “Ace of Spades”. His other investments include his ownership stakes in the entertainment company Roc Nation, which he founded, and Tidal, an originally European streaming service which Jay acquired and relaunched in the States.
Since 2011, Diddy has been the undisputed champion of the Forbes Five: a list put together by Forbes which annually ranks the hip-hop artists with the greatest net worth. Diddy owes much of his fortune to investments similar to Jay-Z’s. Puff has large stakes in Ciroc Vodka and DeLeón Tequila, both brands being partially owned by the alcoholic beverage company Diageo. Diddy also owes much of his wealth to his stake in Revolt, a television network founded by himself. Diddy’s net worth as of 2018 is roughly $850 million, up $30 million since last year. Not bad, Puff. Not bad.
The third richest rapper is Dr. Dre, with a reported net worth of $770 million, who amassed much of his fortune back in 2014 when Apple acquired Beats Electronics for $3 billion, which Dre had a massive stake in. Now, it is reported that Dre is due to receive a chunk of Apple stock this summer that could be worth over $100 million, which could potentially put him neck-and-neck with Jay and Diddy at the top of the list.
Em and Drizzy
For the four and five spots on the list, Eminem and Drake are tied at $100 million in terms of net worth. That’s a $660 million drop from Dre’s position, leaving a lot of room for them to catch up. Birdman had formerly been on the list, but after Eminem’s release of the album Revival and Birdman’s Miami Beach home foreclosure, he’s been edged out of the list.
The finish line in the race to become the world’s first hip-hop billionaire may be crossed as soon as next year, considering how fast these moguls are amassing wealth. Back in 2011, Diddy and Jay-Z were worth $475 million and $450 million, respectively. Jay-Z has literally doubled his net worth in just seven years, with Diddy just shy of doing the same. Do the math, and you’ll see that Jay has tacked on $64 million to his net worth each year on average since 2011. With Diddy not far behind, what’s another $10 million to either of them?
Hip-hop’s Premiere Power Couple
Still, one should note that Jay and Beyoncé have already claimed the title of first billionaire couple in hip-hop, as the Queen Bey had a net worth of $350 million recorded in 2017. With a growing family, their combined estate has just expanded with the purchase of two pricey properties: a $26 million mansion in East Hampton, and a $88 million Bel Air estate. While they paid for the East Hampton spot in full, they have a $52.8 million mortgage on the other.
Jay’s going to have to keep his foot on the gas if he wants to be the first to claim the title of hip-hop billionaire. Who do you think will become the first hip-hop billionaire? Let us know in the comments, and don’t forget to SHARE this article!