Here's How Much Money Jay-Z Has Lost During The Pandemic

With an impressive net worth of $1 billion, rapper and business mogul Shawn "Jay-Z" Carter is the definition of a true success story. Not only did the Brooklyn-born star build his music career from the ground up – earning 22 Grammys along the way – but he also invested his earnings wisely. As Forbes noted, Jay-Z's business portfolio has just about everything, including liquor, art, and real estate deals. Then there are the numerous companies Beyoncé's husband has invested in, like the music streaming service Tidal, and rideshare company, Uber. "All my businesses are part of the culture, so I have to stay true to whatever I'm feeling at the time, whatever direction I'm heading in," he told Men's Health about his vision for success. "And hopefully, everyone follows."

Although Jay-Z has worked hard to secure his fortune, his tenacity doesn't safeguard him against serious hits to the economy, like the global coronavirus pandemic. "It's clear that the coronavirus pandemic will cause a recession, and all indications point to a severe one," business columnist for the St. Louis Post-Dispatch, David Nicklaus, reported on March 23, 2020.

We're not worried about Jay-Z's ability to stay afloat during these tough times. However, we can't help but wonder how much money he might have lost during this pandemic so far. As for that figure? We sort out the math below.

Full disclosure: We're not a math whiz by any stretch of the imagination. That being said, we do have a pretty good idea of where Jay-Z invested his money and how these dealings could hurt his wallet amid this pandemic. First up is his stake in Uber, which is reportedly worth $70 million, per Forbes. The company hit a road bump on March 17, 2020, when it announced the suspension of its carpool services to contain the spread of COVID-19. This resulted in shares of Uber dropping down 6.8 percent to $18.91 per share that same day, per CNBC. Considering all of the shelter in place orders across the United States, Uber could take an even bigger hit down the line.

Taking a look at Jay-Z's other companies like his full-service entertainment company, Roc Nation, and his liquor venture, D'Usse, we predict potential losses in the future. Roc Nation's artists can't put on concerts for the time being, and the company's partnership with venue operator Live Nation is seemingly stalled due to the coronavirus. Live Nation announced March 13, 2020, that "large-scale events through the end of March be postponed," per The New York Times. And as for D'Usse, we're not sure if Americans will be able to fork over $50 for a 750 ml bottle of Jay-Z's famous cognac in the coming months. 

The bottom line here? It seems like, to some extent, Jay-Z's financial future will be impacted by this pandemic. 

Jay-Z didn't have the easiest childhood, with his father, Adnis Reeves, leaving the family when he was just 11. Although the rapper's mom worked hard to make ends meet, Jay-Z later turned to drug dealing for an income. Jay-Z doesn't shy away from his past, often explaining in interviews how this illegal gig taught him the fundamentals of business. "To be in a drug deal, you need to know what you can spend, what you need to re-up," he explained to Vanity Fair. He added, "Or if you want to start some sort of barbershop or car wash—those were the businesses back then. Things you can get in easily to get out of [that] life. At some point, you have to have an exit strategy, because your window is very small; you're going to get locked up or you're going to die."

Another business trick the mogul picked up from the streets? "I knew what characters not to have around me," he told Vanity Fair. "Sometimes it's the people around you—whether they want to impress you or they're still in that life—they're hotheaded. It's really the entourage that can be the problem." 

It sounds like Jay-Z acquired some skills that could be useful during these trying times.

No matter how difficult things might get, Jay-Z knows he'll be OK thanks to a simple mantra: don't give up. "In the beginning, we went to every single label and every single label shut their door on us," the dad-of-three said at the 2010 Forbes 400 summit, referring to himself and his then-business partners Damon Dash and Kareem Burke, per CNBC. "The genius thing that we did was we didn't give up. We used that 'what do they know' approach. We didn't give up at that point." Jay-Z added, "We started selling our own CDs and built our own buzz. Then, the record companies came back to us."

Of course, there are plenty of people out there who put in a lot of effort and still fail. All we know is this tactic worked for Jay-Z, who is still going strong despite the obstacles he faced.