Jay Z is officially a BILLIONAIRE! Forbes dubs the mogul the first hip-hop star to top 10 figures after starting his own fashion label, investing in liquor, art and Uber and buying homes in LA, the Hamptons and NYC.

<img decoding="async" src="https://i.dailymail.co.uk/1s/2019/06/03/16/14311000-7099803-image-a-1_1559576257405.jpg" alt="Cheers to that! Jay Z has been officially dubbed a billionaire by Forbes.">
The Grammy award-winning star has made a series of smart business choices. Jay Z, 49, has stakes in Armand de Brignac champagne and D&#8217;Ussé cognac. He also boasts a $70 million art collection and $50 million real estate holdings. He has $220 million in cash and investments, a music catalog worth $75 million, and his companies Tidal and Roc Nation which total $175 million. Former drug dealer had humble beginnings in the Brooklyn projects.

Jay Z is the first hip-hop artist to land billionaire status. A combination of successful companies, a lucrative catalog of music, smart investments, and real estate holdings all contribute to the mogul&#8217;s considerable wealth, according to a new Forbes story on Monday.

Jay Z, whose real name is Shawn Corey Carter, has amassed a fortune that &#8216;conservatively totals $1 billion&#8217;, making him one of only a handful of entertainers to reach such staggering wealth.

He has invested wisely in companies like Uber, started his own record label and clothing line, and also diversified his wealth with an art collection and real estate.

<img decoding="async" src="https://i.dailymail.co.uk/1s/2019/06/03/16/14311028-7099803-image-a-2_1559576496400.jpg" alt="The history: Forbes featured Jay Z alongside Warren Buffet on the cover in 2010.">
Jay Z has made a series of smart business choices like stakes in swanky booze brands Armand de Brignac champagne and D&#8217;Ussé cognac which the outlet claims are worth $310 million and $100 million respectively. He started his clothing line Rocawear in 1999 before selling it for $204 million to Iconix in 2007.

&#8216;Jay Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the first hip-hop artist to do so,&#8217; Forbes writes.

He told the magazine: &#8216;Hip-hop from the beginning has always been aspirational.&#8217;

Forbes has named Jay Z the first billionaire hip-hop star after the savvy musician launched his own fashion label, invested in liquor, art, and even Uber, along with smart investments in real estate in LA, the Hamptons, and NYC.

Liquor &#8211; $410 million: Jay Z owns 100% of luxury champagne brand Armand de Brignac and also has a stake in D&#8217;Ussé cognac.

Art &#8211; $70 million: Forbes estimate Jay Z has amassed a $70 million art collection featuring masterpieces like Basquiat&#8217;s Mecca.

Real estate &#8211; $50 million: Along with superstar wife Beyonce, Jay Z has a $26 million home in the Hamptons, a $88 million Bel Air mansion, and a $6.85 million Tribeca penthouse.

Music &#8211; $250 million: Jay Z has his own record label, Roc Nation, representing some of the biggest stars on the planet, including Rihanna, and worth a reported $75 million. He also relaunched Tidal with other celebrity investors, thought to be worth $100 million.

With around 1 billion streams of his music each year, the star&#8217;s back catalog of hits is thought to have netted him $75 million.

Uber and other investments &#8211; $220 million: After snapping up a stake in ride-sharing app Uber, now thought to be worth $70 million, Jay Z is said to have cash and investments totaling $220 million.

The new profile does a deep dive into the 49-year-old&#8217;s finances and totals up things like his $70 million art collection, $50 million real estate holdings, $220 million in cash and investments, a music catalog worth $75 million, and his companies like Tidal and Roc Nation &#8211; which total $175 million.

<img decoding="async" src="https://i.dailymail.co.uk/1s/2019/06/04/14/14353382-7099803-image-a-2_1559653607989.jpg" alt="Jay-Z has scored 14 No. 1 albums, 22 Grammy awards and more than $500 million in pre-tax earnings.">
Jay-Z has scored 14 No. 1 albums, 22 Grammy awards and more than $500 million in pre-tax earnings, according to the magazine.

The Tidal founder&#8217;s rise to success is particularly notable considering his humble beginnings in the Brooklyn projects, transitioning from working street corners as a low-level drug dealer to a Grammy-winning megastar.

Forbes noted that early on in his career, Jay Z, who once rapped &#8216;I&#8217;m not a businessman, I&#8217;m a business, man,&#8217; showed his business acumen by eschewing traditional endorsement deals that celebrities typically favor for riskier choices.

&#8216;Crucially, he realized that he should build his own brands rather than promote someone else&#8217;s,&#8217; they wrote.

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Jay Z is officially a BILLIONAIRE! Forbes dubs the mogul the first hip-hop star to top 10 figures | Daily Mail Online