Jay-Z’s Net Worth Spikes 40 Percent
Written by BET on March 8, 2021
Jay-Z is among the best to ever put lyrics behind an instrumental, and now, he’s within the midst of leveling up his web price.
“Now add that quantity up with the one I mentioned earlier than, you are actually lookin’ at one sensible Black boy,” Jay mentioned on his 2001 observe, “U Don’t Know.” Foreseeing the long run, Jay was appropriate, as Forbes experiences he has now added 40 p.c to his $1 billion web price, following the sale of a majority stake in his music streaming platform, TIDAL and a 50% stake of his champagne model, Armand de Brignac.
The 51-year-old billionaire struck a deal for TIDAL with Sq., Inc., the corporate owned by Twitter co-founder Jack Dorsey.
Every week prior, Jay went half on Armand de Brignac with Louis Vuitton Moët Hennessy (LVMH), promoting half the model to the posh large. Each offers helped raise his web price from $1 billion to $1.four billion.
In his first tweets since November 2018, Jay took to Twitter to discuss the deal and partnership with Dorsey, saying, “Jack is among the best minds of our occasions, and our many discussions about TIDAL’s countless prospects have made me much more impressed concerning the future. This shared imaginative and prescient makes me much more excited to hitch the Sq. board.”
Jay and Dorsey’s earnest objective is to make sure artists receives a commission the quantity they deserve from their streaming numbers on the music streaming service. Now, why would two firms that aren’t parallel to one another collaborate? Dorsey is smart of his transfer with TIDAL in a Twitter thread.
“It comes all the way down to a easy concept: discovering new methods for artists to help their work,” he tweeted. “New concepts are discovered on the intersections, and we consider there’s a compelling one between music and the economic system.”
Jay continues to diversify his portfolio, having a remaining 50% stake in Armand de Brignac model and his less-talked-about stakes in D’Usse cognac, Ethos, and Sweetgreen.