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JAY-Z becomes first hip-hop billionaire

Music Mogul, Jay–Z is now a billionaire, according to a new Forbes magazine, making him the first rapper to amass a fortune in the ten-figure range.

“It’s clear that Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the first hip-hop artist to do so,” the magazine said.

Forbes breakdown indicated that the rapper’s chief source of wealth is his $300-a-bottle Armand de Brignac champagne brand (at $310 million), but also boasts investments at well over $200 million (including a large stake in Uber).

Forbes says the reason Jay-Z’s wealth went all up on the table is his new business interest in alcohol.

His streaming service Tidal allegedly supplies about $100 million of his net worth, just behind his cognac D’Ussé.

Jay-Z recently gave a special performance to celebrate the re-opening of the celebrated NYC venue Webster Hall.

He and wife Beyoncé were are recipients of the Vanguard Prize at the GLAAD Awards in March.

(NAN)

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