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Jay-Z is officially hip hop’s first billionaire, in a new Forbes magazine’s cover story.

The magazine even said that Jay-Z’s “conservative estimate” of his earnings has him breaking the billion dollar barrier, approximately totals $1bn (£800m).

Forbes says that the husband of singer Beyonce has succeeded because alongside music he invested in real estate, alcohol companies and a roughly $70m stake in Uber.

Jay-Z, whose real name is Shawn Carter grew in one of New York City’s most notorious areas and hit fame in 1996 with his debut album Reasonable Doubt.

In one of 2005 interview, Jay-z said, “Most times rappers end up broke or nowhere.”

Now, considered as one of the best rappers of all time, he once said, “I’m not a businessman – I’m a business, man”.

According to Forbes, Jay-Z’s music rights alone are now collectively worth around $75m and his entertainment company, Roc Nation with another $75m.

Historically, not everyone has been can enter Forbes’ evaluations.

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