Jay-Z, according to Forbes, is now worth a jaw-dropping $2.5 billion following the sale of his alcohol brand. The updated ranking from Friday making him the 1,203rd richest person in the world.
Back in February, Jay 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, and still retains sizeable ownership in the brand.
On top of being the founder and chairman of his Roc Nation entertainment management agency, the 53-year-old also serves on the board for the streaming platform Tidal and owns the luxury sports bar franchise 40/40 Club.
This is all without mentioning that he is one of the most revered and commercially successful rappers ever. Forbes reports that he is the No. 3 highest-paid entertainer in the world.
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Almost simultaneously with this update came some less exciting news for Jay-Z’s equally culturally important wife Beyoncé, whose reported net worth is somewhere around $500 million.
On Thursday (March 23), the 41-year-old singer-businesswoman-mogul ended her relationship with Adidas, per the Hollywood Reporter. This move officially puts an end to their collaborative clothing line Ivy Park.
Adidas and Beyoncé first began working together on the brand in 2018, two years after Ivy Park was founded. Containing sneakers and sports gear, Ivy Park was meant to release its latest collection of jackets, coats, tracksuits and more sometime soon.
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This is the second major relationship Adidas has ended in the past year, with fall of 2022 seeing them cut ties with Kanye West after his series of anti-Semitic comments