Jay-Z is an American rapper and bussinessman born in Brooklyn, New York in 1969 under the name Shawn Carter.
At one point during his high school years he was classmate of two guys who would become household names in the music industry, they were Notorious B.I.G. and Busta Rhymes.
During his youth, he fell into some dangerous environments and situations, including drug dealing, and eventually even getting shot at on multiple occasions.
Since then he’s managed to become one of the world’s most succesful musicians and bussinessmans, winning 22 Grammy Awards, all of his albums have gone platinum and has sold over 100 million copies worldwide between them.
Jay-Z’s lucrative sports bussinesses
Since the 1990s Jay-Z started investing money in different ventures, specially around music and clothing, but in 2004 he decided to enter the sports industry, and was allowed to buy a $1 million minority stake with the NBA’s New Jersey Nets.
He was instrumental in the franchise’s move from New Jersey to Brooklyn, as he helped orchestrate everything with the team’s then majority owner, Mikhail Prokhorov.
Carter also bought a minority stake in Barclay’s Center arena, home of the Brooklyn Nets.
Jay-Z then went on to enter the sports management bussiness with the launching of Roc Nation Sports in 2013, and had to sell his stake on the NBA team due to the league’s rules on conflict of interest.
He sold for $2.35 million, a 135% profitnonetheless.
His brand represents and has negotiated some of the biggest athletes around the top leagues in major sports.
What’s Jay-Z’s net worth?
Jay-Z has an estimated net worth of $1.3 billion.
He first became a billionare in 2019, due to his extraordinary hability to invest and generate revenue of his brand.
That year his venture capital firm, Marcy Venture Partners, raised over $85 million in investment capital, a number that just keeps growing.
Alongside his wife, Beyoncé, they own over $150 million in real estate just in the United States, and the couple even has their own private island in the Bahamas.
In 2017 they bought an $88 million 30,000 square foot mansion in Bel Air, with public records showing a $52 million mortgagebeing taken out for the purchase.