Just 2 weeks ago we applauded black billionaire Robert Smith when he pledged to pay off the $40 million student loan debt of 390 graduates from Morehouse college.
He went viral on social media and lead many of us to ask who is Robert Smith and how did he become a billionaire?
For me, it when even further, now I wanted to know, how many black billionaires are there.
The 14th black billionaire
Well, of the 2,153 people who made it to the 2019 FORBES list of the World’s Billionaires, only 13 of them are black, up from 11 a year ago.
And one of them was Jamaican which I was happy to see as that’s my country.
Fast forward 2 weeks later, And now we have a 14th addition to the list of black billionaires.
To no surprise to anyone, it’s no other than The God MC, Hov, Jay Z aka Sean Carter. It was always going to be Jay or Diddy, or maybe Dr. Dre.
Nonetheless, it’s still amazing to see.
Even the 3rd richest man in the world had the foresight to see where Hov was headed almost 10 years ago.
“Jay is teaching in a lot bigger classroom than I’ll ever teach in. For a young person growing up, he’s the guy to learn from.”
– Warren Buffet (2010)
How did Jay Z make his money?
- Armand de Brignac ($310 million)
- Cash & Investments ($220 million)
- D’Ussé ($100 million)
- Tidal ($100 million)
- Roc Nation ($75 million)
- Music catalog ($70 million)
- Art collection ($70 million)
- Real estate ($50 million)
The biggest takeaway from this list is how small of a contribution his music catalog is to his overall wealth.
Going by that list alone, the numbers would have you believe music isn’t worth that much but it’s actually the most valuable thing on the list.
Hip Hop was the gateway that gave Sean Carter the leverage he needed to capitalize on all his other ventures.
Hip Hop was the vehicle, everything else were destinations.
Congratulations Sean Carter, and thank you for the inspiration and motivation.