Rapper Jay Z's Net Worth Touches $2.5 Billion, Warren Buffett's Old Comments On Him Resurface
Billionaire Warren Buffett predicted that young people would soon turn to Jay-Z for financial guidance.
Billionaire Warren Buffett predicted that young people would soon turn to Jay-Z for financial guidance during an old interview with the rapper. Interestingly, the artist's net worth is now $2.5 billion, according to the latest Forbes estimates. Jay-Z was also the first billionaire rapper in the world. Since then, his fortune has increased as a result of a number of wise business decisions and ventures, creating what Forbes refers to as "a sprawling and diversified empire." According to its Real-Time Billionaires ranking, he is the 1,205th richest person in the world.
Amid this, an old Forbes interview of Jay-Z with the legendary investor is going viral. In the interview, he compared his approach to his music career with the Oracle of Omaha's strategy of investing only in businesses he knows rather than what is most popular.
"Music is like stocks. There's the hot thing of the moment. People tend to make emotional decisions based on that. They don't stick with what they know, you know, 'This is who I am. This is what I do.' They jump on this next hot thing. And it's not for you." Jay-Z told Forbes at the time.
At the conclusion of their conversation, Mr Buffett predicted that young people would soon turn to Jay-Z for financial guidance.
"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," the billionaire said.
With investments in Armand de Brignac champagne, D'Usse cognac, and different investment properties in New York and LA, Jay-Z became the first billionaire rapper back in 2019. His wealth has increased as a result of the expansion of his entertainment firm Roc Nation, the sale of the streaming service Tidal and numerous investments in businesses like Uber.