American rapper, Shawn Corey Carter better known as Jay Z has been named the richest rapper alive.
According to Forbes, the record producer and entrepreneur is now worth a jaw-dropping $2.5 billion following the sale of his alcohol brand. The updated ranking from Friday makes Jay Z the 1,203rd richest person in the world.
According to reports, Jay Z sold his 50% stake of his D’USSÉ cognac back to its parent company Bacardi for a reported $750 million after a tense court battle in February and still retains sizeable ownership in the brand.
Meanwhile, French business magnate, Bernard Arnault, CEO of LVMH Moët Hennessy Louis Vuitton, currently sits at No. 1 on that list with a reported valuation of $216.1 billion.
Recall that Jay-Z became Hip Hop’s first billionaire in 2019, thanks to his “expansive, encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber.