Since he first hit the music scene rapper Jay-Z has never been short of a bob or two. And now hip-hop’s first billionaire musician is even richer.
In the past week, Jay-Z has signed an agreement to sell his majority share in the music streaming company Tidal for US $297 million (NZ$414 million). Forbes reports he is selling to Jack Dorsey’s mobile payment company Square.
Earlier in the week the rapper bought back 33.3 per cent of Tidal from T-Mobile, before onselling those shares and the third he already owned to Square. He retains a small percentage of shares in the company, as do Tidal’s “artist shareholders”.