The 2023 World’s Billionaires List from Forbes has been published. Kanye West lost his spot, making Jay-Z the only rapper on the list.
This ranking, which was released on Tuesday, April 4, ranked Jay-Z as the richest rapper in the world, with a net worth of $2.5 billion, up from his previously estimated net worth of $1.5 billion.
Rihanna and Kim Kardashian are a couple of the other well-known figures from the entertainment industry on the list.
It’s interesting to note that Kanye West was left off the ranking after his favorable deal with Adidas ended. The rapper, who was ranked 1,513 on Forbes’ list of the world’s richest people last year, has a multi-year deal with the sports brand for his label Yeezy. According to Forbes, Ye’s wealth decreased from $2 billion to about $400 million. The musician and businessman lost several of his partnerships as a result of a string of offensive remarks, which included using antisemitic language on social media.
With a net worth of $2.5 billion, a huge increase from $1.4 billion the last time around, Jay-Z is rated 1217 on the list. The Brooklynite outperformed Tom Ford at $2.2 billion, Michael Jordan at $2 billion, and Mark David at $1.9 billion. in terms of wealth and was tied with Oprah Winfrey and Donald Trump.
According to Forbes, Jay-Z built his money from his successful alcohol businesses. The world’s largest spirits company, LVMH, acquired a 50% ownership in Jay’s Armand de Brignac, also known as Ace of Spades, a champagne company, in 2021. In February 2023, the Brooklyn rapper also gave Bacardi the majority of his ownership in his cognac company, D’Usse.
Interestingly, his year, more than 250 people, including the Wayfair founders Niraj Shah and Steve Conine, dropped off the Forbes rich list.