Jay Z Net Worth 2019: Age, Kids, Wife, Career, House
|Last Update||June 2019|
|Net worth 2019||$1 billion|
|Real name||Shawn Corey Carter|
|Date of birth||Dec 4, 1969|
|Kids||3 kids: Blue Ivy Carter, Rumi, and Sir Carter|
|Source of wealth||Rapper, entrepreneur|
A recent report released by Forbes magazine  indicates Jay Z as officially the world’s first billionaire rapper. The magazine reports that Jay Z has accumulated wealth that has surpassed the $1 billion mark, which puts him as the only hip hop rapper to step on the billionaires club.
Jay Z, whose real name is Shawn Corey Carter, has dominated the music industry for decades giving us hits such as “Forever Young, Run This Town, Holy Grail, Otis,” and much more. The $1 billion earnings have been boosted by collaborations with his wife, Beyonce.
How DidJay Z Get His Fortune?
It is not easy to amass wealth worth $1 billion if you haven’t diversified your source of income. That was the case with Jay Z because his success lies not only in music but also in several industries ranging from real estate to investments in art industries, liquor, fashion, clothe ware, Uber, and much more.
Early Rise to Fame
As it is common to nearly all successful artists, Jay Z also had humble beginnings. Jay Z was born in Dec 1969 in Brooklyn, New York. He grew up in a poor housing complex, Mercy Houses, where he began selling drugs to make ends meet.
Jay-Z’s mother solely raised the child together with his 3 siblings after their father abandoned them. Since Jay-Z’s mom had been academically enlightened, she had the best intentions for her children and made an effort to ensure they received the best education.
Shawn attended Eli Whitney high school before moving to George Westinghouse Career and Technical education. Jay Z met several future rappers at the institution, including rapper BIG and Busta Rhymes.
Since he knew he had musical talent, Jay Z decided to enter the music industry at a very early age, and the decision proved worthwhile. While at high school, Jay Z joined rap battles, which sparked his interest in music.
As high school years passed, Shawn’s mom decided to purchase him a boom box, which further sparked Jay-Z’s interest for music. The rapper began freestyling and writing lyrics for rap battles in high school.
While growing up, Shawn had a music mentor named “Jay-O,” and he decided to adopt the name “Jay-Z” to honor his mentor.
Jay Z released several records that he began selling at the trunk of his car. Given that he was unpopular and unsigned with no record deal, Jay Z started to selling his music using the door to door approach.
Seemingly, he did not find any breakthrough and decided to co-find the record label Roc-A-Fella with Damon Dash and Kareem Biggs.
Through the record label, Jay Z released a long line of award-winning albums, including the debut album “Reasonable Doubt” in 1996. Over two decades, the record label proved handy and made every album released by the rapper a massive success.
To date, Jay-Z is the only solo artists with most number one albums on the US Billboard 200, taking 14 slots. The talented rapper has also had four number ones on the Billboard Hot 100.
How Jay Z Boosted His Net Worth Over The Years
Jay Z didn’t stop at rapping. He had earlier learned that the best way to grow wealth was by saving money before investing it in brands, instead of leading a lavish life. This logic made him go into entrepreneurship, where he invested in restaurants and nightclubs.
He further diversified his income by building his clothing line, Rocawear, which launched in 1999. Since the establishment of a clothing line, it has generated more than $300 million as of 2007.
Jay Z also knew the logic that says, ‘Don’t wait till you have everything you desired.’ When he started his record label Roc-A-Fella, Jay Z lacked enough money for the deal. He also lacked equipment and essential resources relevant to the brand, but he never stopped pursuing his dream.
Today, Jay Z is one of the most successful hip-hop artist alive and a smart businessman who has stakes in several companies, including $300 million of stakes in champagne brand Armand de Brignac and $70 million stakes in Uber.
In 2015, Jay Z purchased Tidal estimated to be $100 million. Additionally, he has his art collection worth $70 million, and real estate portfolio worth $50 million.
Assets and Investment Portfolio From Jay Z
As of 2019, Jay Z’s net worth stands at $1 billion, which makes him the world’s first billionaire rapper, thanks to his financial prowess and diverse experience in investment that has made him build an empire that cannot collapse anytime soon. Jay Z is a smart businessman because of the following investment portfolio:-
The successful rapper began Rocawear in 1999, a clothing line that is popular among college students because of the classy casual wear for men, women, and kids. The line also deals with shoes. Jay Z founded the line in partnership with his friend Dash, but the two fell out, making them sell the label to Iconic Brand group in 2007 for $204 million.
Jay Z has two top-rated clubs, the 40/40 opened in 200 in New York and the second branch opened in Atlanta Airport. Forbes magazine reports that the clubs generate him an annual income of more than $10 million.
Jay Z is a recognized sports agents who owns Roc Nation Sports. He also had shared for New Jersey Nets, an NBA team in the year 2004.
Jay Z partnered with his friend Dash and founded the Roc-A-Fella Records, which proved worthwhile in shaping Jay-Z’s career. After falling out with Dash, the label was sold, and Jay Z later joined Def Jam Records before leaving it in 2009 and signing a deal at Live Nation. Jay Z stayed in Live Nation for a while before proceeding to start a recording label ‘Roc Nation.’
In 2015, Jay Z purchased Tidal, a music streaming platform that aims to prevent unlawful streaming of music. As of 2019, Tidal was estimated to have a net worth of $600 million, hence boosting his net worth.
Investments in real estates
Jay Z has a taste for fancy things. That’s why he purchased two homes in 2017 after welcoming twins; a $26 million seven-bedroom house and an $88 million house in Los Angeles. He also owns a $6.5 million New York City penthouse and a $6.85 million Tribeca penthouse.
Forbes magazine estimates Jay-Z’s art collection to be $70 million. Sources close to the rapper indicate that he owns Mecca by Jean-Michel Basquiat which was worth $45 million in 2013.
Jay Z has a stake in Uber estimated to be $70 million.
Jay Z has also been able to endorse brands such as Microsoft’s Bing, Hewlett-Packard computers, Reebok shoes, and Budweiser beer. He also has a website called Life+Times, which offers editorial content on sports, music, fashion, and technology.
Jay Z and Philanthropy
The rapper has amassed more than enough wealth throughout his career. As a result, he manages to give back to society handsomely. For instance, Jay Z owns the Shawn Carter Foundation that helps underprivileged kids.
Jay Z Net Worth by Years
Jay Z is happily married to Beyonce, and they are always termed as the world’s celebrity couple. Beyonce is also a talented American singer, and the two have collaborated for several hits.
Beyonce first made an appearance in Jay-Z’s songs in 2006 hits like ‘Déjà vu,’ and ‘Upgrade U.’ Jay Z has always been very protective of his personal life, and for years, the couple has kept away from public discussion of their relationship.
The couple officially wedded in 2008 and managed to keep the press away. Jay Z and Beyonce welcomed their first daughter in 2012, Blue Carter. In June 2017, the powerful couple welcomed twins, a boy and a girl named Sir and Rumi. Jay Z is a loving dad and spends the majority of his time caring for his children.
Jay-Z’s path to success wasn’t smooth, but his hard work and determination saved him a great deal. The impressive Jay Z net worth as at 2019 is $1 billion, and he deserves it because of his bright mind. Jay-Z is one of the most successful hip-hop artists in the world who’s been a motivation to a lot of upcoming artists and entrepreneurs.