After four anticipation filled years, Sean Carter AKA Jay Z dropped his latest project, “4:44.” Coming off collabos with DJ Khaled and several other artists, co-producing big budget film “The Great Gatsby,” and owning his own sports agency, apart from other ventures, it is safe to say the man is still on his hustle!
In 2017, Forbes accredited Mr. Carter with having a net worth of $810 million!! Just to help clarify what that means, here is the definition:
NET WORTH
“the value of the assets (= property and money) that a person or business has, after any debts are taken away”
“Definition of “net Worth” – English Dictionary.” Net worth Definition in the Cambridge English Dictionary. N.p., n.d. Web. 13 July 2017.
Jay Z OWNS more money than he OWES by $810 million! At this point, IF he did owe anyone they would most likely OWE HIM and Kanye’s an example (unless you are a Koch brother, Warren Buffett or any of the other billionaires).
Jay is on his way to being the first ever rap-billionaire, even when early in life he thought getting Gold for an album was considered “crazy.”
Yup, Sean just continues to impress and there is really not much more you can do other than pay respect. A self-professed drug dealer who grew up in Marcy Housing projects to then be able to dine with the Obama family, invest as he has and have his recent album go platinum in 5 days without being sold on any major platform than Tidal (which belongs to him btw) is deep!
When his last album dropped in 2013, Jay was determined by Forbes to have a net worth of $475 million……………… HIS VALUE HAS NEARLY DOUBLED IN FOUR YEARS!!!
How has Jay Z obtained this kind of financial freedom? How has Sean Carter made ballin’ look so easy??? And why does J to the Izzo say no money phones this way?!
Apart from the aforementioned, Jay gives us a taste in “The Story of O.J.”
“JAY-Z – The Story of O.J.” Genius. N.p., 30 June 2017. Web. 13 July 2017.
Investing, investing, investing
Warren Buffett is the second richest man on the planet, but he still eats at McDonald’s (he also has great health insurance). Bill Gates IS the richest and often donates lump-sums of money to charity, yet his kids did not own a smart phone until 14 years of age. What do these financial giants have in common? Discipline and Investments
Side note: Centuries of slavery and oppression are in large part the reason for income inequality in the US and abroad as there are plenty of figures to cite from. In addressing financial literacy, the hook to the song goes, “Light nigga, dark nigga, faux nigga, real nigga/ Rich nigga, poor nigga, house nigga, field nigga/ Still nigga, still nigga.” Jay Z recognizes that race is a deeply rooted factor accompanying financial security and refers to himself as the “field nigga,” (way different context than Bill Maher’s situation) describing his struggle to survive in what Tupac called the “White Man’z World.” Jay even starts the song saying, “I’m not Black, I’m O.J.,” referencing identity struggle that has promulgated in the Black community, Tiger Woods being another well-known example. This fact to the side, let us shift our attention onto other factors.
African Americans and Latinos have lagged in these two categories. The African American community invests 35% less than their White counterparts and it does not get better for Latinos. Meanwhile, African Americans and Latinos are big time consumers in the market, to the point that back in 2015, University of Georgia stated, “the U.S. Hispanic market in 2015 will be $1.3 trillion, which is larger than the GDP of Mexico.”
DAMN SON!! Latinos in the US consume more overall than the amount of economic growth one of the wealthiest countries in Latin America sees?? That’s ill.
What about the African American community?
“Asians, Hispanics Driving U.S. Economy Forward, According to UGA Study.” Asians, Hispanics Driving U.S. Economy Forward, According to UGA Study – Newsroom – Terry College of Business – University of Georgia. N.p., n.d. Web. 13 July 2017.
Earlier this year, Fortune published an article providing statistics on how much of our
earned income as African Americans and Latinos go into rent alone. Last year, it took about 44% of one’s income to make rent in predominantly Black communities, up from 40% five years prior. Hispanic communities, about 48% of income went to monthly rent, up from 41% in 2011.
All of this to say as an underdog player in the investing arena, we sure do a great job at spending! We pay into tuition, insurance and mortgages that one way or another see their way into the pockets of savvy and opportunistic investors, while people of color technically fund someone else’s bank account before their own.
Did you know that the Koch brothers seek to spend between $300 – $400 million in the next two years to shape policy and politics? Also that they had spent about $250 million on projects to shape the outcome of last year’s elections?
Just felt like throwing that in there lol oh, spoiler. They are neither Black nor Latino.
Through his 4:44 album, Jay Z is telling us something that the White community has told us for a long time: spend less, make money, invest more. Warren Buffett once said if you had to give him gold or farm land, he would rather take the farm land because gold by itself does nothing. Similarly, US Dollars, less valuable than gold, used to make the trendy “money phones” are producing no interest by being placed by your ear on Instagram.
Fortunately, although our Black and Hispanic communities are wising up by grooming notable professionals in varying sectors, we can still look back at those who have come out of the hood and succeeded. They continue blessing us with wisdom and knowledge, Jay being one of them.
In 2015, The Chicago Tribune stated that “a person who invests about $33 a week in a stock market index mutual fund starting at 25 could have about $1 million by retirement if the fund grows as it has historically.” This principle jumps to $87 a week if starting at age 35 and increases as one advances in life. So before ya’ll pull your money phones out or, if similar in my case, wallet phones to show what you’re about, take that time you spend scrollin’ on the Gram to learn how to concoct your first business venture or contemplate your next academic degree. Turn that 2 to a 4, 4 to a 8 and pass that thang (this spelling is intentional) down to your children!
Before investing in something, invest in someone AND THAT IS YOURSELF.
Y’all out here still takin’ advances, huh?
Me and my niggas takin’ real chances, uh
Y’all on the ‘Gram holdin’ money to your ear
There’s a disconnect, we don’t call that money over here, yeah“JAY-Z – The Story of O.J.” Genius. N.p., 30 June 2017. Web. 13 July 2017.
Abstract Lifestyle 
Speaking truth!! This is really good!!
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Much appreciated!! 🙂
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