When “The Nutty Professor” hit the big screen in 1996, it revived the career of Eddie Murphy while its soundtrack also pushed Jay-Z, an up-and-coming rapper, into the spotlight.
Although the film’s initial budget was $54 million, it earned $274 million at the box office, according to Forbes. And the soundtrack — which featured Jay-Z’s hit single with fellow rapper Foxy Brown, “Ain’t No N*gga’’ — went platinum, reached No. 8 on the Billboard 200 and No. 1 on the Top R&B/Hip-Hop Albums.
For Jay-Z, this was his moment to shine. Earlier in the year, Jay-Z had released his debut album “Reasonable Doubt.” As the first release for the Roc-a-Fella label, the album received critical acclaim, but with songs that were not radio-friendly it was not initially a commercial success.
Yet one song, “Ain’t No N*gga” which featured a teenage female emcee, Foxy Brown, was catchy enough to be placed on “The Nutty Professor” soundtrack. And as a result, Jay-Z transformed nearly overnight from an underground artist to a mainstream hip-hop artist.
From Marcy to Malibu
Twenty-seven years later, Jay-Z is no longer an underground artist dreaming of being in heavy rotation on radio stations. Today, he is hip-hop culture’s first billionaire with a net worth of $2.5 billion as a result of his work as a lyricist, producer, and entrepreneur. He has sold more than 140 records and 24 Grammy Awards.
Jay-Z seems to have always had an interest in not just being in the music booth but at the head of the boardroom. He launched Roc-A-Fella Records in 1995 with his former partner Dame Dash. After the partnership ended, he was appointed president and CEO of Def Jam Recordings. The clothing line Rocawear and 40/40 Club helped Jay-Z launch Roc Nation in 2008. He’s been able to purchase Aspiro, a tech company, and spearheaded the growth of the media streaming company, Tidal. In March 2021, Jay Z sold 80% of Tidal for $302 million.
Jay-Z indirectly fought the law and Jay-Z indirectly won. The 53-year-old successfully evaded a lawsuit brought against him and senior leaders of Block (formerly known as Square) over the company’s estimated $300 million acquisition of Tidal.
Reuters reports a judge has thrown out the class-action suit against Jack Dorsey and other Block, Inc. board members from the plaintiff, The City of Coral Springs Police Officers’ Pension Plan. The pension fund, which holds a share of Block, Inc., declared that their March 2021 purchase of Tidal was “a terrible business decision.”
Jay-Z also launched Monogram in 2020 and invests in the Marcy Venture Partners, supporting innovative startups.
With an extensive real estate portfolio that includes properties in New York, Bel Air, and Malibu, Jay-Z never runs out of space for his wife Beyoncé and their three children.