- Jay-Z is “hip-hop’s first billionaire,” according to Forbes.
- He and Beyoncé have been dubbed “music’s first billionaire couple,” with a combined net-worth of $US1.26 billion.
- They don’t just make money through music – they are entrepreneurs with major stakes in companies like Roc Nation, Tidal, D’USSÉ, and Ivy Park.
- With their fortune, they buy houses, clothes, jewellery, private jets, donate to charity, and much more.
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Following is a transcript of the video.
Narrator: In 2018, Beyoncé’s net worth was $US355 million, and Jay-Z’s was $US900 million. Combined, the couple is worth a whopping $US1.26 billion. As chart-topping musicians, of course they have made a lot of money through their hits, but they have also brought in millions through other entrepreneurial pursuits, making them one of the richest power couples in the world. Their joint “On the Run II Tour” grossed $US253.5 million, earning an average of $US5.28 million per concert. In 2018, Beyoncé headlined Coachella and was estimated to receive between $US8 million to $US12 million for her performance. She then signed a $US60 million deal with Netflix, which includes the documentary “Homecoming,” chronicling her preparation for Coachella. “Homecoming” was released on April 17, 2019.
Beyoncé: Catch the fever.
Narrator: Beyoncé’s fortune doesn’t just come from performing. In 2010, she launched a fragrance called Heat. It made $US75,000 in its first day and $US400 million overall. 2015 saw the launch of her vegan meal-delivery service, and the following year, she launched her Ivy Park clothing line. And like most celebrities, Beyoncé has made a lot of money through endorsements. To name a few: Tommy Hilfiger, L’Oréal, American Express, and Pepsi.
Beyoncé: ♪ The joy of Pepsi. ♪
Narrator: Beyoncé also has a stake in Jay-Z’s music-streaming company, Tidal. Mr. Carter bought the company in 2015 for $US56 million, but its value increased when Sprint bought a third of the company in early 2017. It’s now worth $US600 million. Jay-Z’s albums and live tours have brought in millions of dollars over his 30-year rap career.
Jay-Z: ♪ Keep your a– tight in Versace ♪ ♪ That’s why you gotta watch your friends, ♪ ♪ you got to watch me. ♪
Narrator: The most money he made from a solo tour was in 2017 during his “4:44 Tour,” which netted $US48.7 million. That same year, Jay-Z signed a 10-year deal with Live Nation for $US200 million. Live Nation owns Jay-Z’s entertainment label, called Roc Nation, a big source of his income. Roc Nation represents musical artists and athletes. In 1999, he cofounded the clothing company Rocawear, which he then sold in 2007 for $US204 million. He reportedly has a stake in Armand de Brignac, a company that makes $US300 Champagne nicknamed “Ace of Spades,” and has his own brand of cognac, D’USSÉ.
Jay-Z was an early investor in Uber in 2011, and he started his own venture capital fund called Marcy Venture Partners last year. He also had a stake in the Brooklyn Nets, which he wrote was “never about the investment; it was about the Nets and Brooklyn.” His share was estimated at $US350,000 when he sold it due to conflict of interest with Roc Nation Sports.
So how do they spend all that money? One way they spend it is on real estate. Some of their homes include this house in the Hamptons, this converted church in New Orleans, and an $US88 million mansion in Bel Air, California. Beyoncé and Jay-Z also spend money on their family. Beyoncé reportedly bought a $US5.9 million house for her mother in Houston. The couple is also said to have spent more than $US80,000 on matching gold cribs for their twins, and they bought an $US11,000 dress for their other daughter, Blue Ivy, to wear to the MTV Video Music Awards.
They spend money on things like courtside basketball tickets, expensive restaurants, nice clothes, jewellery, and gifts for each other. Beyoncé once bought Jay-Z a $US40 million private jet for Father’s Day. But Beyoncé and Jay-Z don’t just spend their money on lavish homes, gifts, and vacations. They also put some of it toward charity.
After Hurricane Harvey in Beyoncé’s native Houston, she donated both time and money to help with the aftermath. She and Jay-Z each help fund scholarships for disadvantaged youth. Jay-Z has also produced films to raise awareness about issues like racism in the criminal justice system. The couple has spent millions on charities and made some extravagant purchases. With income streaming in from so many different sources, who knows what lies ahead for music’s first billionaire couple.
EDITOR’S NOTE: This video was originally published on May 3, 2019.
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