American rapper and business mogul, Sean Carter, better known as Jay-Z, has been named the world’s wealthiest musician.
Forbes estimates his net worth at $2.5 billion, attributed to his wide-ranging investments and ventures, including Roc Nation, the premium champagne label Armand de Brignac (Ace of Spades), and the cognac brand D’Ussé.
Jay-Z also made substantial profits from the sale of the music streaming service, Tidal, and the fashion brand, Rocawear.
He also has investments in real estate, hospitality, tech, and startup companies.
Meanwhile, Taylor Swift maintained her position as the richest female musician with a net worth of $1.6 billion.
According to Forbes, Swift is the first musician to hit billionaire status solely based on her songs and tours.