Jay-Z Scores Big On Forbes "Power List," Nets $83 Mill Last Year
According to Forbes, Jay-Z (born Sean Carter) earned around $83 million in the past year, landing him at the No. 9 position. Hov outranked director Steven Spielberg who stood at No. 10 and also left his rap peers at bay, as 50 Cent and Sean "Diddy" Combs placed 32nd and 43rd, respectively.
The issue went to press before Coca Cola offered $4.1 billion for vitamin water company Glaceau, of which 50 Cent owns a minor stake. Forbes predicts the G-Unit boss will be ranked higher next year and, thanks to the deal, is expected to take in $100 million.
"It speaks to transcendence of hip-hop into the popular culture," Forbes' associate editor Lee Goldman told New York's Daily News. "And it has nothing to do with the music. You're seeing a 'brand' of musicians who makes their money from their business ventures."
Since the top of the year, Jay-Z has closed several major business deals, including a deal with Coca-Cola and a partnership with General Motors to collaborate on a new concept vehicle. In March, Jay also sold his Rocawear clothing line to the Iconix Brand Group Inc for $204 million in cash. In addition, reports surfaced in April that Jigga is currently in negotiations with champagne giant Armand de Brignac, well known for its "Ace of Spades" logo.