3 money lessons from Jay-Z's '4:44'
After much anticipation, Jay-Z is dominating the internet again with the release of his 13th studio album "4:44." While some are interpreting the 10-track release as a response to Beyonce's 2016 "Lemonade," Mr. Carter himself broke down the meaning behind each track in an interview with iHeart Radio.
With a growing empire that reaches well beyond entertainment, the 47-year-old opens up about the power of entrepreneurship, investing and the need to build wealth, leaving listeners with a three valuable lessons on how to take their success to the next level:
Invest in your neighborhood
"We all make money, and then we all lose money, as artists especially. But how, when you have some type of success, to transform that into something bigger," Jay-Z tells iHeart Radio when describing the meaning behind his song "The Story of O.J."
On this track, the rapper bemoans rising real estate values in his home city, calling out one of Brooklyn's trendiest neighborhoods and saying, "I could have bought a place in Dumbo before it was Dumbo for like $2 million. That same building today is worth $25 million. And guess how I'm feelin'? Dumbo."
He also touches on return on investment — he earned on artwork he purchased years ago for $1 million that is now worth $8 million — and underlines the importance of a buy-and-hold strategy.
Support other entrepreneurs
Having risen from street corners in Brooklyn to corporate boardrooms himself, Jay-Z knows a lot about supporting entrepreneurs within your community. He tells iHeart Radio that his track "Family Feud" is about separation within the culture, and he speaks about the power of building wealth within the black community.
"What's better than one billionaire? Two. 'Specially if they from the same hue as you," he raps.
Jay-Z also shouts out his fellow multi-millionaire, Sean Combs, referencing his partnership with the maker of Ciroc.
Combs first teamed up with beverage company Diageo in 2007 to develop the upscale vodka brand. Within two years of its release, the company grew from selling 50,000 cases per year to nearly two million, according to The Wall Street Journal.
Build generational wealth
Jay-Z's track "Legacy" opens up with his daughter, Blue Ivy Carter, asking what a will is, setting the tone for a discussion about building wealth for the next generation.
"Generational wealth, that's the key. My parents ain't have s--- so that shift started with me," he raps, discussing his stake in Roc Nation and his plans to leave a piece of the company for his siblings and their children.
According to Forbes, Roc Nation is a $19.2 million business. He launched the venture through a $150 million deal with Live Nation in 2008. Since then, the company has expanded beyond the managing recording artists and into sports and investments in startups. Earlier this year, the mogul extended his business relationship with Live Nation by signing a decade-long touring partnership valued at $200 million.