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Shawn “Jay-Z” Carter, an African-American businessman and hip-hop’s first billionaire, has seen his net worth fall by $100 million since the start of the year.
The multimillion-dollar decrease in his fortune is the result of the revaluation of his personal assets, which include his ownership stake in the entertainment company Roc Nation, investments in the Armand de Brignac champagne and D’Usse cognac brands, and a fine art collection.
According to data tracked by Billionaires.Africa, Jay-Z, who holds a 50-percent stake in his Armand de Brignac, has dropped by $100 million since the year began, from $1.4 billion on Jan. 1 to $1.3 billion at the time of writing this report.
According to Forbes data, Jay-Z is the world’s 2,076th richest man at the time of writing. He also ranks one of the world’s top 10 African-American billionaires.
Despite his net worth loss, Jay-Z’s fortune has increased by $300 million since February 2021 when French luxury holding giant Moet Hennessy Louis Vuitton (LVMH) acquired a 50-percent share in Armand de Brignac.
Since LVMH signed a partnership deal with Armand de Brignac, the rapper-turned-business-mogul-and-investor has seen his net worth surge from $1 billion to $1.3 billion at the time of writing this report.
He made $297 million last year when he sold a controlling stake in Tidal, his high-fidelity music streaming network, to Jack Dorsey’s Square.
The legendary entertainer also owns equity positions in Square, a U.S. mobile payments company established by Twitter Founder and former CEO Jack Dorsey, as well as stakes in venture capital firm Marcy Venture Partners, which was named after the housing project where he grew up.
Jay-Z collaborated with Dorsey earlier this year to develop “The Bitcoin Academy,” an educational program arguing for the democratic notion that “knowledge is power.”
