JAY Z BIG SPENDER! Inside the billionaire lifestyle of Jay-Z who has £91m mansions, spends £78k on boozy nights out and splashed £191k on a gold chain necklace
HE WAS famously raised in a poverty-stricken New York ghetto and turned to rap to escape a life of drugs and violence.
And this week, Jay-Z, real name Shawn Carter, has become the first billionaire in hip hop after striking gold with investments in music, property, fashion and tech.
According to a new report released by Forbes, Jay-Z has taken the crown as the world’s richest rapper following a two-year battle with P Diddy in the race to accumulate their first billion.
The rise in fortune of the 49-year-old husband of Beyonce is all the more impressive given his deprived start in life.
He was raised on the notorious Marcy Houses projects in Brooklyn by a single mum after his dad left when he was 11, survived being shot at, lost friends to death and jail, and famously dealt crack cocaine which he credits with honing his future business nous.
“I know about budgets. I was a drug dealer,” he once told Vanity Fair.
In the ultimate rag-to-riches tale, it was music that helped propel him out a dire situation, and he went from selling CDs from his car to founding the hugely successful Roc-A-Fella Records in 1995, selling over 100m records and nabbing 22 Grammy Awards.
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