Jay Z: Music Mogul and Business.

by Aidan Taylor

I believe everyone in the world is born with genius-level talent. Apply yourself to whatever you’re genius at, and you can do anything in the world.

Musical mogul and businessman, Jay Z, is on the icon list for obvious reason. One of the most powerful men in the entertainment industry, Carter has set the stage for a lot of the artist we listen to now. Such as Rihanna, J Cole, Big Sean, and up until his recent antics, Kanye West. Jay Z is just as a great a businessman as he is an artist, which is why he was the highest paid rapper of 2018, according to Forbes. The drug dealer turned billionaire shows no intention of slowing down, either. In the summer of 2018, Jay Z and his superstar wife, Beyonce, went on their second OTR tour, grossing over $250 million. His solo 4:44 tour, grossed about $50 million in 2017. On top of his 13 studio albums, his entertainment firm, Roc Nation, business ventures with companies such as Puma and nightclubs in New York and LA, he also is sole owner of Tidal, a music streaming company the he helped to re-brand. Since he was made sole owner back in March of 2015, he has doubled the overall value of the streaming-service.

Born Shawn Carter, on December 4th, 1969, his mother said he was the only child that didn’t cause her any pain during birth. She knew he was going to be something special and began to push his creativity when she caught him making beats on various pieces of furniture around the house. Growing up in a rough part of Brooklyn, Marcy Projects in specific, he witnessed many things a child shouldn’t. He was good in school, but was soon consumed by the environment he was in and started selling drugs at the age of 14. His experience in the drug business mixed with the curiosity of rapping led Carter to team up with some people he knew to start their own record label, Roc-A-Fella records. When they began the company, only 3-5% of artist had actual longevity in their careers. Carter, with the help of former friends such as Dame Dash and Kareem Burke, built a very successful foundation for the record company and for Jay as an artist.

Carter announced his retirement from music in 2003, focusing all his efforts on business. Through Roc-A-Feller came artist such as Kanye West, Cam’ron, Nipsey d, Beanie Sigel and producer, No-ID. Roc-a-Fella split in 2004 when the trio (Jay, Dame, and Biggs) sold their 50% stake to Island Def Jam Music Group, making the Record Label full owners. Carter was able to keep his position as president and the rights to his masters, which left his former business partners in the dark. He later explained that he was considering turning  down the position, “So I was like, let me get Reasonable Doubt and I'll give up [the rest of] my masters. I'll give up Roc-A-Fella, I'll give up president and CEO of Def Jam—everything. Just give me my baby to hold on to so 10 years down the line, I can look back and I got something—I'm not empty-handed. And I was the one being offered everything. I thought it was more than fair ... And when that was turned down, I had to make a choice. I'll leave that for the people to say what choice they would've made. That's about it…” After slowly down his role as a rapper, he began pushing underground artist and producers to become global superstars under his management. He also became sole owner of the New York Nets during his “retirement”.

Coming out of retirement in 2006, Carter released his album, Kingdom Come, after what he calls the “the worst retirement in history”. If becoming the President and CEO of a major record label, buying of The New York Nets, and in being Beyonce’s boyfriend counts as “the worst retirement in history”, I hope mine is just as bad.

Carter founded Roc Nation in 2008, an entertainment company that specializes in literally, everything. The company houses almost all forms of entertainment, from including music, sports, film and even is active in civil rights issues. Since then, Carter has made himself one of the worlds most influentials rappers and businessmen. In his newest album, 4:44, he stresses the importance of ancestry, history, therapy, and financial security for the black community. He addresses generational wealth and generational curses, the lack of communication and the broken trust between black men and black women; topics that the black family often has a hard time dealing with. He also produced two documentaries; Time: The Kalief Browder Story and Rest In Power: Trayvon Martin.

One thing is for sure: Carter has worked extremely hard for everything he has. He’s definitely earned his spot as the GOAT. Continuing to break glass ceilings all around the globe. His business-savvy brand has done him quite well, with a individual net-worth of $900-million and a combined net worth (with spouse, Beyonce) of $1.3-billion. Not bad for a kid from Marcy Projects. Jay Z shows no signs of slowing down, continually pushing the boundaries and being a source of inspiration to black people everywhere. He has used his platform to create, conquer, and most importantly, change.