At this point, Jay-Z might as well drive a dump truck full of money up to the bank to deposit all of his recent earnings.
The rap mogul scored a huge payday with the sale of his majority stake in Tidal, plus half of his champagne brand Armand de Brignac. According to the site Celebrity Net Worth, Hova has added about $400 million to his net worth.
And while cashing out with these two deals, he’s still taking in money from his ownership in the cognac brand D’Usse, salad restaurant chain Sweetgreen, and insurance startup Ethos.
Rapper and billionaire mogul Jay-Z has been on a roll lately striking deals left and right that are adding cash to his bank accounts. He’s made two enormous deals in two weeks – he’s selling a majority stake in his music streaming company Tidal to Square for $297 million, which values the company at $450 million. He made $149 million in cash and stock and was made a board member when he bought 33% of Tidal back from T-Mobile just days before selling that plus the 33% he already owned to Jack Dorsey’s mobile payment company. Jay-Z still owns a small stake in the company.
This deal came on the heels of the one where he sold half of his stake in his champagne brand Armand de Brignac to Bernard Arnault‘s LVMH in a deal that valued the champagne brand at $640 million. Jay-Z retained 50% ownership of his luxury champagne brand. Combined, the two deals added about $400 million to his net worth. Suddenly, his 2005 lyric, “I’m not a businessman, I’m a business, man,” makes a heck of a lot of sense. He’s had a plan all along.