Shawn Carter, better known as Jay-Z,
launched his career with a self-made mentality.
He founded Roc-A-Fella Records in 1995 after
being unable to land a recording contract with a major record label.
Jay-Z grew up poor in the Marcy housing project in Brooklyn.
“The burden of poverty isn’t just that you don’t always have the things you need,” Jay-Z told NPR in 2010. “It’s the feeling of being embarrassed every day of your life, and you’d do anything to lift that burden.”
The rapper has detailed his years as a drug dealer in numerous songs and interviews, but he finally went legit when he created Roc-A-Fella Records in 1995 with Damon Dash and Kareem Burke.
His debut album “Reasonable Doubt” a year later turned the rapper into a rising star.
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Jay-Z made his first millions in the late 1990s and early 2000s off of his chart-topping songs.
After “Reasonable Doubt,” Jay-Z had a run of success rarely seen by a rapper at that point.
In 1999, he won a best rap album Grammy for “Vol. 2… Hard Knock Life.” He followed that with countless chart-topping hits over the decades, including “Big Pimpin’,” “99 Problems,” “Crazy in Love.” He also smartly made a deal to purchase the masters and publishing rights to his music catalog in 2004, which has netted him a significant chunk of change: $75 million, Forbes estimates.
He launched Rocawear in 1999 and sold it for hundreds of millions in 2007.
The clothing line became an instant hit among fans and a leading brand within the growing hip-hop fashion community of the late 1990s.
In 2007, Jay-Z sold the company to Iconix Brand Group for $204 million in cash. By that time Rocawear had annual sales of over $700 million, according to The New York Times.
He bought a percentage of the Brooklyn Nets in 2003. Then in 2013, he sold his stake to start the sports agency Roc Nation Sports.
played a crucial role in getting the Nets from New Jersey to Brooklyn in 2012.
But in 2013, the mogul sold his stake and began the sports agency Roc Nation Sports.
“Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists,” Jay-Z wrote on his website, Life and Times, in 2013 as to why he made the move. “For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets.”
In 2015, Jay-Z bought the company behind Tidal, the music streaming service. In 2021 he sold it, pocketing over $100 million.
Jay-Z got into the streaming music business in 2015 when he spent $56 million to acquire the company Aspiro. He then used that tech to launch Tidal, the music service that would compete with the likes of Apple and Spotify.
In 2021, Jay-Z sold Tidal to the payment platform company Square for $297 million, according to Forbes. The outlet reported that the mogul walked away from the deal with $149 million in cash and stock.
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He also earned millions from his liquor brands Armand de Brignac and D’Usse.
In 2014 he bought the champagne brand Armand de Brignac. Under his watch, the gold bottle with the Ace of Spades on it grew into a must-have bubbly.
In 2021, he sold 50% of his stake to LVMH’s Moët Hennessy, though he still has an ownership stake in his D’ussé Cognac brand. Barcardi bought a majority stake in 2023 worth about $750 million, according to Variety.
Jay-Z signed a $200 million deal with Live Nation in 2017.
“Live Nation and I entered unchartered territory in 2008,” Jay Z said in a statement about the deal at the time, Variety reported. “Over nine years, we have traveled the world producing historic music experiences.” The renewed partnership would “continue redefining the live event landscape.”
The “Big Pimpin” rapper has countless other ventures he’s been involved in over the years, from Roc Nation to private jets.
His entertainment label Roc Nation falls under his work with Live Nation, and in 2019 it teamed with the NFL on entertainment initiatives with the league, including its Super Bowl halftime shows.
That partnership has led to acclaimed halftime performances from The Weeknd, Dr. Dre, and most recently, Rihanna.
He was also an early investor in JetSmarter, a startup that allows people to rent private jets like they would an Uber or Lyft. The company was purchased by Vista Global in 2019 and merged into the new brand XOJET Aviation.
He also has a luxury marijuana brand.
Jay-Z launched the luxury cannabis brand, called Monogram in 2019. Rihanna, Meek Mill, and DJ Khaled are all investors, according to GQ.
In 2019, Forbes named Jay-Z the first-ever hip-hop billionaire.
In 2019, after years being in a deadlock with Diddy on who was the top-earner in hip-hop, Jay-Z finally topped the other mogul, according to Forbes.
The outlet noted it was a mix of his music library, which at the time was worth $75 million, his liquor deals, and Tidal.
In 2023, Jay-Z’s net worth hit $2.5 billion.
In less than four years, Forbes bumped up the mogul’s net worth to $2.5 billion thanks to his liquor businesses, music catalog, and fine art collection.
Jay-Z ‘s art collection is worth tens of millions.
Jay-Z has been collecting works of art for years.
In 2013 he bought the Jean-Michel Basquiat painting “Mecca” for $4.47 million, according to Sothebys.
His collection is worth around $70 million.
He and Beyoncé have homes from coast to coast.
The power couple own some serious real estate, including multiple houses in the Hamptons, a 30,000-square-foot compound in Bel-Air, and a penthouse in Tribeca.
He also owns private islands. Yes, more than one.
He bought Beyoncé an island for her 29th birthday in 2010 in the Florida Keys. But that’s not their only island getaway.
Three years later he bought another island. This one in the Bahamas spans 360 acres.
He spends lavishly on his family.
Along with yacht parties and jet-setting around the world with the fam, Jay-Z and Beyoncé often treat their children Blue Ivy, Rumi, and Sir to extravagant gifts. The couple spent thousands on a dress Blue Ivy wore to the 2016 VMAs and bought a $3,500 lucite crib when Blue Ivy was born.
