Shawn Carter, popularly known as Jay Z, is an American rapper and businessman. As one of the most successful hip hop artists in the US, Jay Z’s net worth is at an estimated $550 million. Jay Z has received multiple awards and recognition for his music, but the corporate world also recognises the Roc Nation founder for his business aptitude.
Jay Z is the Business
Jay Z rhymes on a Kanye West track, “Diamonds From Sierra Leone,” that he isn’t a businessman, but instead says how he’s a business himself. Establishing himself as a successful entrepreneur, Jay Z’s investments span across a variety of industries. This includes clothing lines and record labels, among others. Through these business ventures, Jay Z learned about the corporate structure and made lasting relationships.
BNI Australia, a business networking and referral organisation, emphasises the significance of the business referral system. This is a program that companies use to develop long-term and substantial relationships with quality personnel. Jay Z has made excellent use of his network, starting out on the streets and moving up and into boardrooms.
Roc Nation, Jay Z’s entertainment company with offices in New York City, Los Angeles, and London, manages a stable of the world’s biggest artists. This roster includes names like Rihanna, and fresh personalities, like Vic Mensa. This portfolio also features technology, software, real estate, movie production, club and apparel. It wouldn’t have gotten as far as that if it weren’t for the people he knew.
From Hustling in the Streets to Ownership
Jay Z knew how to hustle and take advantage of opportunities. Carter lived in Maryland during his early years and was into hip hop and knew he could perform, but he wouldn’t have been into music if Damon Dash, a promoter from Harlem, hadn’t arranged to finance his recording. This was because Jay Z wasn’t going to risk his current finances at the time. But once he had a team to support his ideas, he eventually started Roc-A-Fella Records.
The record label would expand into the clothing business, and soon enough, his music label would become a lifestyle brand.