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Forbes has named American music mogul, Jay–Z, as the richest musician in the world.

The rapper is now the first rapper to become a billionaire.

“It’s clear that Jay-Z has accumulated a fortune that conservatively totals $1 billion, making him one of only a handful of entertainers to become a billionaire—and the first hip-hop artist to do so,” Forbes said.

 

Forbes’ breakdown indicated that the rapper’s chief source of wealth is his $300-a-bottle Armand de Brignac champagne brand (at $310 million), but also boasts of investments at well over $200 million (including a large stake in Uber).

Forbes said the reason Jay-Z’s wealth went all up on the table is his new business interest in alcohol.

His streaming service, Tidal allegedly supplies about $100 million of his net worth, just behind his cognac D’Ussé.

Jay-Z recently gave a special performance to celebrate the re-opening of the celebrated NYC venue Webster Hall.

He and wife Beyoncé were recipients of the Vanguard Prize at the GLAAD Awards in March.

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