Jay-Z becomes the first billionaire rapper


Can I borrow $5?

Source: Parade

Source: Parade

According to Forbes‘ latest cover story, JAY-Z‘s fortune “conservatively totals $1 billion,” making him the first rapper to reach billionaire status.

The 49-year-old musician reached the milestone thanks to business interests in fashion, a sports management company and a stake in ride hailing app Uber, the magazine said.

Jay-Z, who is married to pop star Beyonce, is also a part-owner of the streaming service Tidal, another source of income on top of his chart-topping music.

It means his net worth "conservatively totals" one billion US dollars ($A1.44 billion), Forbes said.

The magazine said it calculated his total amount by adding up his income before subtracting "a healthy amount to account for a superstar lifestyle".

It then checked the estimate with outside experts to make sure it was "fair and conservative".

The nearest hip-hop figure to Jay-Z is Diddy, Forbes said, with an estimated net worth of $US825 million ($A1.2 billion).

It had been thought Dr Dre became the first billionaire rapper when he sold his Beats company to Apple in 2014 for $US3 billion, but Forbes said his net worth would have been about $US800 million due to taxes.

Jay-Z, whose real name is Shawn Carter, was born in New York City and rose to fame after releasing his debut album Reasonable Doubt in 1996.

Onya Jay-Z.

 
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