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Jay-Z ‘becomes hip-hop’s first ever billionaire’

Jay-Z has been named hip-hops first ever billionaire.

The rapper, 49, who is married to superstar singer Beyoncé, raked in the cash thanks to a number of business ventures including real estate, a share in Uber and a champagne brand.

His empire is said to ‘conservatively’ total $1 billion, according to the business magazine Forbes.

Jay-Z, whose real name is Shawn Carter, grew up in one of New York’s roughest neighbourhoods, Marcy Houses in Brooklyn.

He was a drug dealer before becoming a musician.

He once said: ‘I’m not a businessman – I’m a business, man’.

Forbes said Jay-Z’s music rights alone are worth around $75 million.

His entertainment empire Roc Nation is also worth $75 million.

Jay-Z has a $70 million investment in ride-hailing app Uber and $50 million in real estate.

Some of the rapper’s most valuable assests include his $310m ownership of a champagne brand and a $100m stake in a cognac.