Jay Z is officially a BILLIONAIRE! Forbes calls the mogul the first hip-hop star to earn more than $10 billion after starting his own fashion label, investing in wine, art and Uber and buying homes in LA, the Hamptons and NYC

The first hip-hop musician to become a billionaire is Jay Z.

 According to a new Forbes article published on Monday, the mogul's significant wealth is a result of a number of profitable businesses, a successful music library, astute investments, and real estate holdings.

 There are very few celebrities who have accumulated a fortune that 'conservatively totals $1 billion', like Jay Z, whose real name is Shawn Corey Carter. 

 He has made smart investments in businesses like Uber, launched his own clothing brand and record label, and expanded his fortune by holding real estate and art.

According to the magazine, he has received more than $500 million in pre-tax income, 14 No. 1 albums, and 22 Grammy trophies.  

 Since the rapper and Warren Buffet were originally featured on the cover of Forbes 400, a list of the 400 wealthiest Americans, in 2010, the financial publication has been monitoring the rapper's fortune.

 "Jay is teaching in a lot bigger classroom than I'll ever teach in," the American business billionaire said of the Grammy-winning rapper. 

 "He's the person to learn from as a young person grows up."

 In 2018, he and Kylie Jenner shared fifth position on Forbes' list of the richest celebrities.

According to the site, Jay Z has made a number of wise economic decisions, such as investing in upscale liquor companies Armand de Brignac champagne and D'Ussé cognac, which are valued at $310 million and $100 million, respectively. 

 In 1999, he launched the clothing brand Rocawear, which he later sold to Iconix in 2007 for $204 million.  

 According to Forbes, "Jay Z is the first hip-hop artist to become a billionaire, and one of only a few entertainers to do so, with a conservatively $1 billion fortune."

 "Hip-hop from the beginning has always been aspirational," he told the magazine.

The 49-year-old's $70 million art collection, $50 million in real estate holdings, $220 million in cash and investments, a $75 million music catalog, and his $175 million businesses, including Tidal and Roc Nation, are all included in the new profile. 

 Producer Swizz Beatz told Forbes, "It's the blueprint for our culture... it's bigger than hip-hop."  We always felt that a guy who loved us, looked like us, and sounded like us was superior to us.

 Imagine what he's going to become if he's already a billionaire.  since he's just getting started.

Given his modest upbringing in the Brooklyn slums and his transformation from a low-level drug dealer on the streets to a Grammy-winning megastar, the Tidal founder's ascent to fame is especially noteworthy. 

 According to Forbes, Jay Z demonstrated his economic savvy early in his career by choosing riskier options over the conventional endorsement arrangements that celebrities typically pursue. He famously rapped, "I'm not a businessman, I'm a business, man."

 Crucially, they observed, "he understood that he should develop his own brands instead of promoting others'."

Apart from the artist's substantial personal wealth, his wife Beyonce's money is also a factor.

 The queen's net worth was estimated to be above $350 million in 2018.  

 In addition to being one of the most in-demand entertainers of all time, Bey is expanding her acting career and renaming her apparel line, Ivy Park.

 In the upcoming live-action version of Disney's The Lion King, the 37-year-old is playing the role of Nala.

 After selling his Beats Music headphones and streaming music service to Apple in 2014, fellow musician Dr. Dre reportedly became a billionaire.

However, the sale is believed to have been little less than $1 billion after state and local taxes. 

Diddy, a fellow rapper, is thought to be worth $825 million. 

According to Forbes, they determined Jay-Z's fortune by 'applying our standard discount to private enterprises' and examining his business holdings. After that, they allegedly calculated his earnings and deducted "a healthy amount to account for a superstar lifestyle." 

According to the site, it then verified the figures with outside specialists.