Jay-Z’s empire: What the billionaire has to lose when he faces sexual assault accusations

Jay-Z built his billion-dollar empire through a range of business endeavors after breaking into the music industry in the 1990s.

Born Shawn Carter, the “Renegade” rapper became hip-hop’s first billionaire in 2019, and as of 2024, his fortune is estimated at $2.5 billion, according to To Forbes.

With him involved in a number of lucrative ventures, including partnerships with the NFL, a music streaming service and a global entertainment agency, it remains to be seen whether any of his work will be affected by the allegations that Jay-Z raped a minor with his wife. Sean “Diddy” Combs After the 2000 MTV VMAs.

Jay-Z, Diddy’s Accusations Create Mystery Surrounding Female ‘B-Celebrity’

“Hip-hop from the beginning has always been aspirational,” he told Warren Buffett in a 2010 Forbes interview. “I always broke that idea that an artist can’t think about money too.”

Jay-Z’s music career spans three decades and includes 13 studio albums, beginning with his “Reasonable Doubt” catalog. He got 24 Grammy Awards He is tied with Kanye West for the most wins by a hip-hop artist.

He created his own record label, Roc-A-Fella Records, in 1994, which was then sold to Def Jam for $10 million in 2004.

“Hip-hop has always been aspirational from the beginning. It’s always broken that idea that an artist can’t think about money, too.”

-Jay Z

His music catalog of nearly 300 songs was worth $95 million in 2021, according to Forbes, with Jay-Z owning both the master recording and publishing rights.

The “Takeover” rapper founded his own entertainment agency, Roc Nation, through a partnership with Live Nation in 2008 and in 2017, he extended the agreement another contract in a deal worth $200 million, according to To variety.

He then brought Roc Nation into the world of sports with a five-year deal with the NFL to restructure the Super Bowl halftime show as part of the NFL’s Inspire Change social activism initiative. The deal was recently extended.

JAY-Z’S ALLEGED SEXUAL ASSAULT: COULD RAP MOGUL FACE CRIMINAL CHARGES?

After the rape charges were revealed… NFL Commissioner Roger Goodell He said while he was aware of the allegations, he wasn’t concerned about Jay-Z’s relationship with the league.

“We are aware of the civil allegations and Jay-Z’s strong response to that,” Goodell said Wednesday after the NFL’s winter meetings. “We know that litigation is happening right now. From our perspective, our relationship with them will not change, including our preparations for the upcoming Super Bowl.”

Jay-Z sold a 50% stake in his French champagne Armand de Brignac (Ace of Spades) to luxury fashion giant LVMH in 2021, which Forbes reported The value of the alcoholic beverage brand was estimated at $640 million.

Beyoncé and Jay-Z buy the most expensive property sale in MALIBU BEACH MANSION of 2023

Soon after, he struck a deal to sell a majority stake in his music streaming company, Tidal, to former Twitter owner Jack Dorsey’s online payments company, Square, for $297 million.

One day after “Run This Town” rapper. Embroiled in a sexual assault case, Jay-Z has filed a motion to dismiss the lawsuit, according to documents obtained by Fox News Digital. He also asked the court to reject the plaintiff’s request to proceed anonymously.

Jay-Z’s powerful lawyer, Alex Spiro, was recently represented Alec Baldwin In his trial for manslaughter.

Combs, his old friend, was charged with Blackmail plotand sex trafficking by force, fraud or coercion, and transportation for prostitution in a federal indictment unsealed Sept. 17.

Get FOX Business on the go by clicking here

Authorities alleged that Combs ran A.J Criminal enterprise Through his businesses, including Bad Boy Entertainment, Combs Enterprises, Combs Global and others. He used “firearms, threats of violence, coercion, and verbal, emotional, physical and sexual abuse” to fulfill his sexual desires, according to the unsealed indictment obtained by Fox News Digital.

“exotic holidays” They were “elaborately produced sexual performances that Combs arranged, directed and masturbated during, often electronically recorded,” according to the indictment. Combs and his employees transported commercial sex workers across state lines and internationally for “exotic trips” that occurred regularly and sometimes lasted for several days, often involving multiple sex workers, the indictment said.

Although the “Last Night” singer maintained his innocence, if proven guilty, he faces a minimum of 15 years behind bars or a maximum penalty of life imprisonment.

Justice Arun Subramanian Combs’ trial scheduled It will start on May 5. Prosecutors expect the government’s case to take three weeks to present, while Combs’ legal team estimates it needs one week to argue the rapper’s defense.

Click here to read more about Fox Business

Tracy Wright is a correspondent for Fox News Digital. Story tips can be sent to [email protected].