Did you know that JayZ is now an official billionaire! What’s even more surprising is that with every rapper who has been flaunting cars and chains in their videos over the years, JayZ is the first hip hop artist to actually reach this status, and one of the few entertainers overall to reach this benchmark. All of this has happened 23 years after his first album release. He has come a long way right?! But, the kicker is how he did it and what we can learn from it. We all know that he’s one of the greatest in hip hop, but did you know that his biggest profits don’t come from his music? It also doesn’t come from selling merch, his online business or touring. The bulk of his wealth is coming from investing in stocks, real estate and more over time. JayZ and Beyoncé have been teaching silent lessons on how to build wealth for a while but have we been missing the details?
JayZ has had a business mindset from the beginning. After stepping away from life in the streets of Brooklyn, JayZ eventually released his first album. While life has its ups and downs when pursuing a career in entertainment, overall, business has been pretty uphill for him from there. So what pushed him into billionaire status? According to Forbes, the Brooklyn native has made very strategic investments in liquor, art, real estate, and shares in growing companies like Uber. After the release of his first music project, he launched Rocawear in 1999 (which he sold in 2007 for $204 million). In addition to all of that, he also later became the co-owner of D’Ussé with Bacardi, and acquired TIDAL. Watch the video below for more details.
We can all learn a lot from JayZ’s moves in business. For example, some of the best business decisions don’t involve starting a new business at all. Why reinvent the wheel? That takes a lot of investment of both money and time. Often times, many start up companies find themselves lost in a busy world packed with competition and/or low start up funding which can take more money and time to build. While startups can make a lot of progress, most (but not all) remain passion projects and few result in Billionaire status.
Your most profitable decision may mean acquiring a business that that is worth owning in full or at least worth owning shares in. It may also be a great idea to consider becoming a co-owner of a business that is already thriving or simply investing in a business that is doing well or that shows great potential for a good return on your investment. Investing in real estate as well as in stocks and bonds of various companies are great avenues for income as well that many bypass. There are many directions to take when seeking additional streams of income. There is no set answer on which way is best. But, it is best to keep in mind that you may have more options that you think you have. JayZ and Beyonce have been leading by example. Let’s keep paying attention so we don’t miss the lessons.