Jay-Z didn’t become the richest rapper in the world by loaning money to family members with the next great business idea. Instead, he earned and sustained his wealth by navigating strategic business deals and investments.
The businessman and musician appeared on Kevin Heart’s show, “Hart to Heart,” in 2022. In a recent clip that resurfaced on social media, Jay-Z reveals that he would not loan a cousin $4,800.
“We haven’t had money for a long time so we aren’t professionals at navigating how to communicate from that space,” he told Hart during the interview. “You go home for peace of mind and your cousin is asking you for $4,800 and can make you $2 million. Life isn’t like that. It don’t work like that, fam.”
Jay-Z reportedly has a net worth of $2.5 million and is considered the richest rapper in the world. He began his career as a hip-hop artist rapping with Jaz-O and serving as a hype man for Big Daddy Kane. Since then, Jay-Z has gone on to release 13 studio albums, including “Reasonable Doubt,” “The Blueprint,” “American Gangster,” “Watch the Throne,” and “4:44.” Yet Jay-Z’s musical career is but a small slice of his wealth.
As the founder and chairman of the entertainment company, Roc Nation, Jay-Z oversees a sports and talent agency, record label, fashion line, management company, television and film production work as well as philanthropic and educational endeavors.
According to MSN, Jay-Z invests in over 100 companies. Some of his most notable investments include being a partial owner of the Brooklyn Nets from 2003 to 2013; a $70 million stake in Uber; an art collection valued at $70 million; $310 in Armand de Brignac champagne and $100 in D’Usse Cognac.
In 2015, he purchased Aspiro, a tech company, and launched Tidal, a music streaming service. He sold Tidal to Square Inc. In 2020, he established Monogram, selling a product line of cannabis.
Fans Speak Out
When the clip hit various social media platforms, fans began to respond.
On X, one person wrote, “Jay Z has 2.5 billion dollars, his cousin asked for 4800 and he said no. To put that into perspective, that’d be the equivalent of someone who made 50,000 a year being asked to give a dime.”
Despite this backlash, others defended Jay-Z’s decision.
“The problem is once you say yes that first time, they always think they can come back to you for more. And it also makes the people around them feel more comfortable asking as well. They become dependent and it’s a very slippery slope.”
He Doesn’t Always Say No
As a calculated businessman, Jay-Z is always interested in a solid idea and plan of action. And while he did not give one cousin $4,800, he did choose to invest in another.
In 2011, Jay-Z invested in Buffalo Boss, a restaurant owned by his cousin, Jamar White. The restaurant now has locations in Brooklyn, Orlando, Milwaukee, and Dubai.