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Forbes Names Jay-Z the First Hip-Hop Billionaire

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Jay-Z is making money moves.

Forbes announced Monday that Jay-Z has become the first hip-hop artist to rack up a billion-dollar fortune, thanks to lucrative investments in real estate, art, liquor and businesses like Uber.

The accomplishment is a far cry from his humble beginnings. Jay-Z (real name: Shawn Carter) was a drug dealer in his hometown of Brooklyn before creating his own label in 1996, Roc-A-Fella Records, from which he released his debut album “Reasonable Doubt.”

Since then, the rapper-turned-mogul has earned 14 No. 1 albums, 22 Grammy awards and over $500 million in pre-tax earnings, according to Forbes.

Forbes announced Monday that Jay-Z has become the first hip-hop artist to rack up a billion-dollar fortune.

His money comes from far more than music.

Since launching Armand de Brignac (which Jay-Z owns 100% of) in his 2006 video  “Show Me What You Got,” the champagne company is estimated to now be worth $310 million. His cognac D’Ussé, a joint venture with Bacardi, is worth $100 million.

Jay-Z has $220 million in cash and investments, including a stake in Uber worth an estimated $70 million, which he originally purchased for $2 million.

His streaming service Tidal – which was launched in 2015 with the help of celebrity investors, including wife, Beyoncé –  is estimated by Forbes to be worth $100 million.

The rapper has accumulated $75 million from his entertainment company, Roc Nation, which represents top artists and athletes like Rihanna and Kevin Durant. His own music catalog is estimated to be worth $75 million alone.

As for Jay-Z’s impressive art collection? $70 million.

Cydney Henderson, USA TODAY

Cydney Henderson, USA TODAY

Arts and Culture

Richmond Preps for Full Weekend of Cinco de Mayo Festivities

Cinco de Mayo festivities in Richmond and San Pablo are some of the bests in Bay, and organizers say that tradition will be alive and well at this weekend’s annual parade and festival. The action kicks off Saturday, May 4, with the 16th Annual Cinco de Mayo Richmond/San Pablo Peace & Unity Parade. The parade of floats, performances, and community organizations starts at 10 a.m. at 24th Street and Barrett Avenue and Richmond and ends at 12:30 p.m. at St. Paul’s Church, 1845 Church Lane in San Pablo.

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Scene from the 2023 Cinco de Mayo parade from Richmond to San Pablo. Photo courtesy The Richmond Standard.
Scene from the 2023 Cinco de Mayo parade from Richmond to San Pablo. Photo courtesy The Richmond Standard.

By Mike Kinney

The Richmond Standard

Cinco de Mayo festivities in Richmond and San Pablo are some of the bests in Bay, and organizers say that tradition will be alive and well at this weekend’s annual parade and festival.

The action kicks off Saturday, May 4, with the 16th Annual Cinco de Mayo Richmond/San Pablo Peace & Unity Parade. The parade of floats, performances, and community organizations starts at 10 a.m. at 24th Street and Barrett Avenue and Richmond and ends at 12:30 p.m. at St. Paul’s Church, 1845 Church Lane in San Pablo.

The parade’s Grand Marshall this year will be community organizer Diego Garcia, owner of Leftside Printing.

The festivities continue Sunday with the Cinco de Mayo Festival along 23rd Street, which last year drew over 100,000 people, according to the 23rd Street Merchants Association. This year’s festival will again run from 10 a.m. to 5 p.m. between the intersections of Rheem Avenue and Clinton Avenue. It will feature two entertainment stages, one sponsored by La Raza 93.3 FM at 23rd and Rheem, and another sponsored by Radio Lazer FM at 23rd and Clinton.

Both events are important for the city and the region’s Latino community.

San Pablo Mayor Genoveva Calloway, who co-chairs the parade alongside John Marquez, president of the Contra Costa Community College District Board of Trustees, says Saturday’s festivities are about bringing the Richmond and San Pablo communities together in unity.

“This truly connects the spectators and people in the parade as one,” Calloway said. “The parade showcases the real communities of Richmond and San Pablo – our nonprofits, schools, horse riders, classic cars and trucks, our local businesses. All of these people represent the heartbeat of our community.”

Rigo Mendoza, vice president of the 23rd Street Merchants Association, said that at its heart, Richmond’s Cinco de Mayo Festival celebrates the date the Mexican army’s victory over France at the Battle of Puebla on May 5, 1862.

But John Marquez started up the popular festival to bring the community together and also to exhibit the community’s businesses and culture to visitors, Mendoza said. The gathering was also a way to promote peace in the community.

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Art

Mario Van Peebles’ ‘Outlaw Posse’ Screened at Oakland’s Grand Lake Theatre

The Oakland International Film Festival hosted a screening of “Outlaw Posse” at the Grand Lake Theatre on Monday. Special guests included director/actor Mario Van Peebles and his co-star, Oakland native Scytorya Rhodes. The film is Peebles’ second western, the first being ‘Posse,’ 13 years ago.

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Film director Mario Van Peebles, who also stars in “Outlaw Posse,” appeared at a press conference held at RBA Creative on MacArthur Boulevard hosted by the Oakland International Film Festival. Photo By Carla Thomas.
Film director Mario Van Peebles, who also stars in “Outlaw Posse,” appeared at a press conference held at RBA Creative on MacArthur Boulevard hosted by the Oakland International Film Festival. Photo By Carla Thomas.

By Carla Thomas

The Oakland International Film Festival hosted a screening of “Outlaw Posse” at the Grand Lake Theatre on Monday. Special guests included director/actor Mario Van Peebles and his co-star, Oakland native Scytorya Rhodes. The film is Peebles’ second western, the first being ‘Posse,’ 13 years ago. Filmmaker Van Peebles shared his passion for independent artistry and producing projects with his son, Mandela, who also starred in the film, along with Whoopi Goldberg and Cedric the Entertainer. Next week, The Post will publish an in-depth interview featuring Peebles’ reflections on his work, future projects, and continuing his father’s legacy and Rhodes on her grandfather, a real-life cowboy.

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Arts and Culture

Kedrick Armstrong: New Music Director for the Oakland Symphony

The Oakland Symphony Announced Kedrick Armstrong as its Next Music Director. In addition to conducting the orchestra’s public concerts, Armstrong will also actively participate in the Oakland Symphony’s many education and community engagement programs, designed to inspire a love of music in people of all ages.

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Kedrick Armstrong is the new music director for the Oakland Symphony. Photo credit Scott Chernis.
Kedrick Armstrong is the new music director for the Oakland Symphony. Photo credit Scott Chernis.

By Post Staff

The Oakland Symphony Announced Kedrick Armstrong as its Next Music Director.
In addition to conducting the orchestra’s public concerts, Armstrong will also actively participate in the Oakland Symphony’s many education and community engagement programs, designed to inspire a love of music in people of all ages.

Armstrong is the successor to previous music director and Conductor Michael Morgan, who passed away in 2021 after a 30-year tenure at the Symphony.

Armstrong will open the Oakland Symphony 2024-2025 season on October 18.

Armstrong, who is 29 and hails from Georgetown, South Carolina, is currently the creative partner and principal conductor of the Knox-Galesburg Symphony.

The Chicago Tribune has praised Armstrong for his ability to “simply let the score speak for itself.” He enjoys a wide range of repertoire, spanning early music to premiering new works, using his joy and curiosity for all music to cultivate understanding and collaboration within diverse communities.
“I am deeply honored and grateful for the opportunity to serve as the new music director of the Oakland Symphony,” Armstrong said. “As a Black conductor, I find it humbling to stand on the shoulders of both Michael Morgan and Calvin Simmons,” the most recent and the first African American music directors of the Symphony, respectively.

Armstrong led three programs at the Symphony between 2022 and early 2024, which showcased his broad knowledge of the classical repertoire and enthusiasm for spotlighting diverse voices.
On his Oakland Symphony subscription debut on Feb. 16, Armstrong led the world premiere of “Here I Stand: Paul Robeson,” an oratorio by Carlos Simon on a libretto by Dan Harder, commissioned by the Oakland Symphony.

Armstrong was selected unanimously by the Oakland Symphony’s board of directors and musicians after an extensive two-year search.  “The search committee was overwhelmed by Kedrick’s scholarship and curiosity about all kinds of music, from classical and jazz to gospel and hip-hop,” said. Dr. Mieko Hatano, executive director of the Oakland Symphony. “We are thrilled to have him join us at the Oakland Symphony.”

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