According to fresh estimates by Forbes, Shawn Carter, better known as Jay Z, has more than doubled his net worth.
The Run This Town singer, who has a net worth of KSh 328 billion, was listed as the 1,208th wealthiest person by Forbes on Friday. This makes him the richest rapper alive.
“The Brooklyn-born rapper was crowned hip-hop’s first billionaire by Forbes in 2019, thanks to a sprawling and diversified empire,” read part of the Forbes report.
The publication stated that he made millions from his Armand de Brignac champagne and D’Usse cognac brands.
The rapper has not released new music or toured recently but has managed to increase his wealth from R19 billion to R45 billion in just a year, reported The Shade Room.
Jay Z is not far behind media mogul Oprah Winfrey who is 1,204th on the ranking list.
French business magnate Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton, currently sits at No. 1 on that list with a reported valuation of $216.1 billion, reports.
Kanye West who once held the richest rapper title, lost his billionaire status after Adidas terminated their partnership with him.
With his reported current net worth, Jay-Z, also known as Jigga, has extended his lead as the richest hip-hop mogul. Last year, he topped Forbes’ list with a reported $1.5 billion net worth.
Sean “P. Diddy” Combs, who finally joined the billionaire boys club last October thanks to the continued success of his Ciroc partnership with Diageo, DeLeon Tequila and REVOLT network, currently sits at No. 2 on the hip-hop rank after dethroning Kanye West.
For the record, Ye (Kanye West) is no longer a billionaire after Adidas cut ties with him amid his anti-Semitic scandal.
In October 2022, it’s reported that his $1.5 billion net worth had been brought down to $400 million after losing the deal with the world-renowned athletic wear company.
The report of Jay-Z’s current net worth comes after he sold his 50 per cent stake of his D’Usse cognac back to its parent company Bacardi for a reported $750 million in February after an intense court battle.
He still retains a significant ownership in the brand.