JAY-Z’s net worth has reportedly increased to $2.5 billion, extending his reign as the richest rapper alive.
On Friday (March 24), the Empire State Of Mind singer was named the 1,203rd wealthiest person on the planet after Forbes provided a “real time” update of his net worth.
With a stated valuation of $216.1 billion, French business magnate Bernard Arnault, CEO of LVMH Mot Hennessy Louis Vuitton, presently ranks first on that list.
If Forbes’ $2.5 billion estimate is correct, JAY-net Z’s worth has doubled since last year, when he was estimated to be worth $1.4 billion.
The publication has yet to explain why the price has risen so much, but it’s most likely due to the recent lucrative sale of the rap mogul’s controlling stake in his D’USSÉ cognac brand.
In February, D’USSÉ’s parent firm, Bacardi, agreed to buy Jay Z’s 50% interest for an estimated $750 million.
The deal, which allowed JAY-Z to keep a “significant ownership stake” in the liquor company, was reached following a long legal struggle between the two sides.
The Roc Nation boss first sued Bacardi in October 2022 over financial transparency issues, demanding that the company reveal its books and all other records.
He then admitted that he thought Bacardi was underbidding him after exercising his right to a buyout in 2021. Jay supposedly demanded $1.5 billion for his interest, but Bacardi only offered him $500 million.
Jay-Z became Hip Hop’s first billionaire in 2019 thanks to his “expansive holdings in liquor, art, real estate (homes in Los Angeles, the Hamptons, and Tribeca), and stakes in companies like as Uber.”