I’m sure it was easier back in his Hustling days In the Marcy Projects located in Brooklyn New York , when his Bottom-line was what baking soda brand is best to mix with his product ( All you Hustlers know what I mean) ,
The Hip-Hop Icon, Net Worth currently at $460 million — What some may not know is Net Worth doesn’t mean the actual dollars a person has in a bank account.. Just the total of assets minus liabilities that one’s name is involved with … So with that being said
Everyone knows the story of how Jay-Z came up from Marcy projects , imprinting himself as a Hip-Hop legend, and a Brand name with a clothing-line, a record company, club chains, and part ownership of a NBA team.. Which all resulted in him becoming a multi-Millionaire…
From Jay-Z’s rap lyrics On Kanye’s -Diamonds he spoke =
I’m not a businessman I’m a Businessman
– [Businesses hasn’t been doing too well lately]..
It started at the beginning of this year, when his wife Beyoncé gave birth to the beautiful Blue Ivy… News broke weeks later, Jay-Z’s once lucrative clothing brand Roc-A-Wear laid off half of its employees .
Cuts were made to the men and boys division of the hip hop apparel line him and Damon Dash, founded in 1999, citing ‘economic reasons’ as the cause… Jay-Z sold the brand back in 2007, but remains very involved in the marketing aspect of it …A insider was quoted saying–
‘Jay-Z doesn’t do anything without getting paid a lot of money — a lot more than Roca wear is generating”
Since the news broke, Jay-Z has become more involved , by creating the first television commercial …And planning to include a Roc -A-Wear store in the new Barclays Arena, located in Brooklyn New York.
After the news of the Roc-A-Wear layoff,– Shortly the—opening or his New York operated 40/40 club , was immediately closed due to a health code violation . The club was issued 69 violation points .. A source from the health department was quoted — “If you have a walk-in place with food like this, you put a hell of a lot of people at risk,”– “A night of dinner and dancing should not include the risk of contracting food-borne illness.” – Last week more bad news for the club chain, Jay-z file suit against his former Chef , Mike Shand for a wing sauce, he created exclusively for the 40/40 club…A source states that the wings are one for the main attractions to the club, losing it would be detrimental to the bottom –line.
Then there is his ownership in the NETS — Two weeks ago, The New York times broke news about Jay owning ONLY 0.06 which is one-fifth of 1% resulting in only $216,000 .…Shocked me.. .. He only invested 1 million years ago towards the NETS over 300 million dollars buy-off. – Reports claims that Jay-Z didn’t want the public to know, what little ownership he has in the team . Since the news broke Jay-Z’s management team has been on a bactrack, including Jay-Z denying to do an interview discussing the opening of the new Barclays Arena next month..The decline for an interview may result in a lost of space for his planned Roc –A-Wear store in the arena…
Jay -Z with NewComer to his record company Roc Nations Rita Ora
The verdict is still out on his involvement with the Roc-Nation record label.. With artists like Rihanna and Rita Ora, who seems to be making more headlines than actual record sales….The future may not be too bright…
But With a wife like Beyonce and friends like Warren Buffet I’m sure Jay-Z won’t be in the employee line anytime soon.. Plus his music remains a profitable business … Still being one of the top-selling artists today…
Jay-Z having Dinner with investor Warren Buffet
The Life & Times of Jay Z