Friday, 2 March 2018

Jay-Z displaces Diddy atop 'Forbes' list of richest hip-hop stars.

"I'm not a businessman, I'm a business, man," Jay-Z rapped back in 2014.

Four years later, that statement is truer than ever as the rapper, 48, knocked Diddy off the top of Forbes' list of the wealthiest hip-hop artists. (In fact, it's the first time in the list's seven-year existence that Diddy hasn't been No. 1.)

What's behind the bump in Jay-Z's net worth, which increased from $810 million to $900 million over the last year? Booze.

Remember when he launched a boycott of Cristal champagne in 2006 after a racist remark from a company manager bemoaning its popularity with rappers? Well, Jay not only stopped drinking and name-dropping Cristal, he bought a stake in Armand de Brignac, a then-fledgling bubbly business. According to Forbes, that investment, combined with one in D'Ussé cognac made the difference this year, in tandem with his stakes in Roc Nation and his Tidal streaming service.

By Jayme Deerwester.
Full story at USA Today.

No comments:

Post a Comment