Jay-Z has just increased his net worth to $2.5 billion
Rapper Jay-Z has just increased his net worth to a whopping $2.5 billion after striking a new business deal
Legendary rapper Jay-Z has one less problem to worry about now that his new business deal has shot his net worth to a staggering $2.5 billion.
Following a live Forbes report, the newly minted businessman currently ranks at number 1209 of the richest people in the world thanks to his $750 million deal with D'usse cognac's parent company, Bacardi.
This settlement comes after a 2021 battle with Bacardi over a difference in brand valuation amounts which led to Jay-Z being rejected in his initial $1.5 billion offer.
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Shawn Corey Carter, also known professionally as Jay-Z, reportedly believed that his brand was worth triple the figure that Bacardi came up.
This was steadily thrown out by the parent company without much rhyme or reason on their part, which allegedly caused mistrust between the musician and the brand.
All of this seems to have been put in the past now as both sides have come to a mutually beneficial agreement, with Jay-Z selling his 50% stake while still retaining a decent size of ownership rights.
The Brooklyn-born rapper has faced an amazing surge in wealth since receiving his initial title of 'hip-hop's first billionaire' back in 2019.
Ranking as the third Highest-Paid Entertainer, the 53-year-old has seen a steady rise in his net worth from 2020 onwards due to various projects and businesses separate to his longstanding music career.
With ventures such as Roc-A-Fella Records, which sold for a whopping $10 million, the music mogul moved onto other pastures like his Roc Nation entertainment company, which helps startups achieve their goals.
Now, Jay-Z is the richest rapper according to net worth, with the likes of P Diddy, Dr. Dre and Kanye West following behind his lead.
It's surely no surprise that Jay-Z is climbing the ranks of one of the richest in the world when an individual bottle of D'usse cognac can cost up to $9350 or even a staggering $52,500 like the rare bottle of the 1969 Anniversaire Limited Edition range which sold at a New York auction two years ago.
With only 1208 people to beat out of the race for the wealthiest OG, the 'Empire State of Mind' artist only needs to pass $218 billion to take over the reigns from the world's richest man, LVMH CEO Bernard Arnault.
Still, there's plenty of time to go!
Britt Jones