Jay Z may be one step closer to becoming hip-hop’s first billionaire. The day after appearing on an annual shortlist of hip-hop’s wealthiest artists. With an estimated net worth of $810 million, the rapper and entrepreneur has announced a new deal with Live Nation that could put him over the top, Variety reports. Jigga and Live Nation announced an exclusive 10-year touring partnership. The agreement continues the MC’s longstanding partnership with the world’s biggest live-entertainment company. The deal includes worldwide touring and will see Live Nation producing and promoting Jay Z concert events. A source tells Variety the deal is worth $200 million.
“Live Nation and I entered unchartered territory in 2008,” Jay said in a statement. “Over nine years, we have traveled the world producing historic music experiences. Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next 10 years, we will continue redefining the live event landscape.”
Live Nation president/CEO Michael Rapino released the following
statement: “Jay Z is one of the world’s preeminent touring artists. This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”