Jay-Z is one of the greatest to ever put lyrics behind an instrumental, and now, he’s in the midst of leveling up his net worth.
“Now add that number up with the one I said before, you are now lookin’ at one smart Black boy,” Jay said on his 2001 track, “U Don’t Know.” Foreseeing the future, Jay was correct, as Forbes reports he has now added 40 percent to his $1 billion net worth, following the sale of a majority stake in his music streaming platform, TIDAL and a 50% stake of his champagne brand, Armand de Brignac.
The 51-year-old billionaire struck a deal for TIDAL with Square, Inc., the company owned by Twitter co-founder Jack Dorsey.
A week prior, Jay went half on Armand de Brignac with Louis Vuitton Moët Hennessy (LVMH), selling half the brand to the luxury giant. Both deals helped lift his net worth from $1 billion to $1.4 billion.
In his first tweets since November 2018, Jay took to Twitter to speak about the deal and partnership with Dorsey, saying, “Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about the future. This shared vision makes me even more excited to join the Square board.”
Jay and Dorsey’s earnest goal is to ensure artists get paid the amount they deserve from their streaming numbers on the music streaming service. Now, why would two companies that aren’t parallel to each other collaborate? Dorsey makes sense of his move with TIDAL in a Twitter thread.
“It comes down to a simple idea: finding new ways for artists to support their work,” he tweeted. “New ideas are found at the intersections, and we believe there’s a compelling one between music and the economy.”
Jay continues to diversify his portfolio, having a remaining 50% stake in Armand de Brignac brand and his less-talked-about stakes in D’Usse cognac, Ethos, and Sweetgreen.