Jay-Z’s Net Worth Jumps 40% After Major Deals With LVMH & Square

Hov told the world he’s not a businessman – he’s a business, man.

Shawn “Jay-Z” Carter was already a billionaire at the start of the year. Nine weeks into 2021 and the Brooklyn-bred Hip Hop mogul has acquired even more wealth through two high-profile business agreements.

Over the last month, news broke that Jay-Z sold half of Armand de Brignac champagne to LVMH for $640 million. Then it was announced that Jack Dorsey’s financial services company Square bought Jay’s $297 million stake in Tidal.

According to Forbes, these two high-profile deals raised the 4:44 album creator’s net worth by 40%. Jay went from a $1 billion net worth to a $1.4 billion net worth. The publication crowned him Hip Hop’s first billionaire back in 2019.

Jay-Z reportedly made $149 million in cash and stock from the Square-Tidal transaction. He will keep a small percentage of Tidal and have a seat on Square’s board of directors. Other “artist shareholders” maintain minority ownership in the streaming service as well.

“I said from the beginning that Tidal was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey,” tweeted Jay-Z on March 4.

“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 its future. This shared vision makes me even more excited to join the Square board,” added Jay. “This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!