Biz, Music: The super-rich Jay-Z knows how to build a brand for himself
- Jay-z may not have that vitamin water money to his name like 50 Cent, but he does OK for himself. The rapper recently showed up on the cover of Forbes with Warren Buffett, and he’s managed to continue to bring in millions of dollars on his own brand by signing the right business deals and finding ways to creatively work with partners. One could argue that you could have a whole business strategy class on how Jay-Z works in business, because he knows how to time his moves very well, and has really only had a small handful of flops (that first collaboration he did with R. Kelly comes to mind). Some more details:
- $450 million in total net worth, which is pretty rad
- $150
million the size of Roc Nation, Jay-Z’s profit-sharing deal with Live Nation, which is profitable despite the lack of signed artists - $204
million the amount Jay-Z received for Rocawear in 2007 – but get this; he kept creative control of the line and heads day-to-day operations
- 45M the number of albums he’s sold so far; all of his albums have gone platinum in the U.S.
- 10 the number of Grammy awards he’s won in his two-decade career (show off)
- 11 the number of chart-topping albums in his career – nine solo and two collaborations source
- » Other business ventures: Don’t think that he stops with clothes and songs. He also has a restaurant chain to his name, The 40-40 Club; a Greenwich Village bistro, the Spotted Pig; a co-ownership stake in the Carol’s Daughter beauty line; and best of all, an ownership stake in the New Jersey Nets, which will end up in Brooklyn in 2012 thanks partly to him.
- » And he’s just getting started: The next thing on Hova’s agenda? He has a book coming out with a fairly interesting concept – basically, he took the lyrics to dozens of his hit songs and explained them in depth. “Decoded” also has Microsoft on board for the advertising campaign. Because that’s how Jay-Z rolls. He gets corporate sponsors to back his projects, and the corporations win because they can bank on Jay-Z’s name to give them cool points. And let’s face it, Microsoft can use as many of those as they can get.
