Jay-Z Addresses Public Perception That All Billionaires Are Bad — ‘People Behave The Way They Want To Behave—It’s Not A Dollar Amount’ – AfroTech
Jay-Z is demystifying the perception of billionaires.
As AFROTECH™ previously reported, the rap mogul out of Brooklyn, NY, was crowned Hip-Hop’s first billionaire in 2019 by Forbes. His net worth has more than doubled since that year, through ventures that include his stake in the cognac brand D’Ussé. He sold 25% of that stake to Bacardi in 2023, according to GQ. He told the outlet that he received $750 million in cash as a result.
“I took 750m CASH, for 25 percent of my D’Ussé stake. Meaning my half is 1.5b. And the full enterprise was valued at 3b (they told me it was [worth] considerably less. My reply was ‘I’ll buy your stake at that price,’” he mentioned.
Jay-Z also sold 50% of his spirits brand, Armand de Brignac, to LVMH in 2021, per the BBC. His investment portfolio also includes TIDAL and stakes in Block and Uber, according to Forbes.
He is also the co-founder and chairman of Roc Nation. This full-service entertainment company supports its clients with artist management, music publishing, touring, production, and strategic brand development, notes Forbes.
Jay-Z’s additional assets include his master recordings, which he secured after becoming president of Def Jam — and a fine art collection — reports GQ. Jay-Z’s fortune sits at an estimated $2.8 billion, according to a Forbes estimate.
Jay-Z On The Perception Of Billionaires
Jay-Z reflected on the stigma around billionaires in a conversation with GQ.
“I got to give you the honest answer: There’s no tension. I don’t give a fuck what you say. You can believe what you want to believe,” Jay-Z said. “And people behave the way they want to behave—it’s not a dollar amount. It’s almost like a cop-out. You get to demonize this group of folks without fixing the actual system that exists, that’s in play. [Money] may enhance it or may cause you to act in a way. But you was going to act like that anyway.”
