Branching beyond the studio
Some of the genre’s most successful artists are also successful investors.
The hip-hop king and husband of Beyoncé is renowned for his business acumen. Warren Buffett himself sat down with Jay-Z in 2010 and came away impressed, according to Forbes magazine. On top of deals through Marcy Venture Partners, his venture capital firm, Jay-Z’s recent investments include NFT platform Bitski, allergy-friendly cookie company Partake Foods, and cannabis retail software company Flowhub. He’s famously had stakes in Uber, Armand de Brignac champagne and the Brooklyn Nets.
One of the most successful rappers in the world, Dr. Dre also made a name for himself outside of the studio. He founded Beats Electronics in 2006 and retained a minority stake in the company when Apple bought it in 2014 for $3 billion — a deal The Guardian said made him the richest man in hip-hop (Jay-Z later surpassed him). Dre also holds real estate investments (including several mansions), founded Aftermath Entertainment, and was co-founder of legendary West Coast hip-hop label Death Row Records.
Forbes estimated P. Diddy was the world’s highest-earning entertainer in 2017 — thanks in no small part to the rapper’s success in the boardroom. Back in 1998, P. Diddy started his own clothing line, Sean John, that earned a $100-million investment from U.S. billionaire Ronald Burkle in 2003. P. Diddy went on to launch a perfume line — I Am King cologne — and currently holds investments in social media collaboration platform PearPop, AI customer service outfit Forethought, and high school and collegiate esports platform PlayVS.
Considered one of the world’s richest female rappers with a net worth of around $85 million in 2019, Minaj’s investments range from a stake in Tidal, Jay-Z’s streaming service, to her own perfume line (including Pink Friday), as well as partnerships with Pepsi, Adidas and Beats Entertainment. Minaj also collaborated with Fendi on an apparel collection.