See what you click on FoxBusiness.com.
Jay-Z built his billion-dollar empire through a handful of business ventures after breaking into the music industry in the 1990s.
Born Shawn Carter, the “Renegade” rapper became hip-hop’s first billionaire in 2019 and, as of 2024, is estimated to be worth $2.5 billion, according to to Forbes.
With a number of profitable ventures, including partnerships with the NFL, a music streaming service and a global entertainment agency, it remains to be seen if any of his businesses will be affected by allegations that Jay-Z raped a minor with Sean “Diddy” combs after the 2000 MTV VMAs.
JAY-Z AND DIDDY’S ACCUSATIONS CREATE MYSTERY SURROUNDING FEMALE ‘B CELEBRITY’
Jay-Z built a billion-dollar empire through music and his businesses. (Karwai Tang/Getty Images)
“Hip-hop from the beginning has always been aspirational,” he told Warren Buffett in an interview for Forbes in 2010. “It’s always broken the idea that an artist can’t also think about money.”
Jay-Z’s musical career spans three decades and includes 13 studio albums, beginning with his “Reasonable Doubt” catalog. He has won 24 Grammy Awards and is tied with Kanye West for the most wins by a hip-hop artist.
He created his own record label, Roc-A-Fella Records, in 1994, which was later sold to Def Jam for $10 million in 2004.
“Hip-hop from the beginning has always been aspirational. It’s always broken the notion that an artist can’t also think about money.”
His music catalog of nearly 300 songs was valued at $95 million in 2021, according to Forbes, and Jay-Z owns both the master recordings and publishing rights.
Jay-Z has a catalog of 13 albums with almost 300 songs to his name. (Getty Images/Getty Images)
The “Takeover” rapper founded his own entertainment agency, Roc Nation, through a partnership with Live Nation in 2008 and in 2017 extended the deal another decade in a $200 million deal, according to to the variety.
He then brought Roc Nation into the sports arena with a five-year deal with the NFL to retool the Super Bowl halftime show as part of the NFL’s Inspire Change social activism initiative. The agreement was recently expanded.
JAY-Z’S ALLEGED SEXUAL ASSAULT: CAN MOGUL RAP FACE CRIMINAL CHARGES?
Following the publication of the rape allegations, NFL Commissioner Roger Goodell He said that while he was aware of the claims, he was not concerned about Jay-Z’s relationship with the league.
NFL Commissioner Roger Goodell, left, announced a partnership with Jay-Z and Roc Nation in 2019. (Kevin Mazur/Getty Images)
“We’re aware of the civil allegations and Jay-Z’s really forceful response to that,” Goodell said Wednesday after the NFL’s winter meetings. “We know the litigation is happening now. In our view, our relationship with them is not changing, including our preparations for the upcoming Super Bowl.”
Jay-Z sold a 50% stake in his French champagne Armand de Brignac (Ace of Spades) to luxury fashion giant LVMH in 2021, which Forbes reported valued the liquor brand at $640 million.
BEYONCE, JAY-Z PURCHASE MALIBU BEACH MANSION THE MOST EXPENSIVE REAL ESTATE SALE OF 2023
Shortly afterward, he reached a deal to sell a majority stake in his music streaming company, Tidal, to former Twitter owner Jack Dorsey’s online payments company, Square, for $297 million.
Jay-Z, left, sold a majority stake in Tidal to Jack Dorsey, the former owner of Twitter. (Andrew Kelly/Cole Burston/Bloomberg via Getty Images)
One day after “Run This Town” rapper Was implicated in the sexual assault case, Jay-Z filed a motion to dismiss the lawsuit, according to documents obtained by Fox News Digital. He also asked the court to deny the plaintiff’s request to proceed anonymously.
Jay-Z’s powerful lawyer, Alex Spiro, most recently represented Alec Baldwin at his trial for involuntary manslaughter.
Combs, his old friend, was accused of extortion conspiracysex trafficking by force, fraud or coercion, and transportation for prostitution in a federal indictment unsealed on September 17.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Authorities alleged that Combs led a criminal enterprise through his businesses, including Bad Boy Entertainment, Combs Enterprises and Combs Global, among others. He used “firearms, threats of violence, coercion and verbal, emotional, physical and sexual abuse” to satisfy his sexual desires, according to the unsealed indictment obtained by Fox News Digital.
Sean “Diddy” Combs has pleaded not guilty to sex crimes and is currently in prison awaiting a trial in May. (Shareif Ziyadat/Getty Images for Sean “Diddy” Combs/Getty Images)
“Amazing” They were “elaborately produced sexual performances that Combs arranged, directed, masturbated to, and often electronically recorded,” according to the indictment. Combs and his staff allegedly transported sex workers across state lines and internationally for “Freak Offs,” which occurred regularly and sometimes lasted several days, and often included multiple sex workers, according to the indictment.
While the “Last Night” singer has maintained his innocence, if convicted he faces a minimum of 15 years behind bars or a maximum sentence of life in prison.
Justice Arun Subramanian Combs trial scheduled will begin on May 5. Prosecutors expect the government’s case to take three weeks to present, while Combs’ legal team estimated it will need a week to argue the rapper’s defense.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
Tracy Wright is a reporter for Fox News Digital. Story suggestions can be sent to tracy.wright@fox.com.
