Updated: 01/17/2018 03:12 PM | First Published: 01/16/2018 05:05 PM

How Jay-Z built his multi-million empire? 5 strategies to success

Transcript

Jay-Z is a self-made millionaire with a huge net worth of $810 million.

Well, such a huge fortune isn’t what the rapper and entrepreneur achieved without setbacks.

He released his first album, Reasonable Doubt in 1996 and since then there has been no looking back.

Jay-Z debut album: Reasonable Doubt (1996)

It’s hard to predict the future, but sometimes, strategies of successful people can be helpful.

Here are some strategies that have contributed to put Jay-Z on track to possible first billionaire rapper.

Betting on himself

After failing to sign with a major record label, Jay-Z partnering with Kareem Burke and Damon 

Dash started their own record label, Roc-A-Fella Records, in 1996.

Co-founded Roc-A-Fella Records in 1996

He achieved instant success, and when Def Jam offered him a recording deal, he replied, “I own the company I rap for.”

Instead of signing with Def Jam, he later sold Roc-A-Fella to them and went on serving CEO of Def Jam for three years.

Valuing the market underdog

Jay-Z is not afraid to go with the market underdog. He entered a four-year partnership with Reebok instead of pursuing a sneaker deal with Nike in 2003.

Signed a 4-year deal with Reebok in 2003

In 2010, his one million dollar campaign for the book, ‘Decoded’ doubled as promotion for Microsoft’s search engine Bing, which was new to the market.

Partnered with Bing in 2010 instead of choosing Google

Likewise, he purchased one-fifth of the NBA team Nets, not the higher-ranked Knicks in 2004 and then moved the team’s location from New Jersey to his hometown.

Bought one-fifth of NBA team, Nets in 2004

Thinking long term

The rapper promoted his 2006 album, Kingdom Come with a Budweiser commercial shown during Monday Night Football.

Promoted his 2006 album, Kingdom Come with a Budweiser ad

Around that time, he was named co-brand director of Budweiser Select beer, and he still continues to have a corporate relationship with the brand.

Still has a corporate relationship with Budweiser 

Similarly, in 2008, with the help of Live Nation, he launched his management company, Roc Nation, which has since expanded into sports and also invests in startups.

Jay-Z and Live Nation are business partner for over a decade

Controlling his image

Jay-Z and Damon Bash launched Rocawear clothing in 1999 and sold the clothing line to Iconix Group reportedly for $204m after eight years.

Jay-Z and Damon Bash launch Rocawear Clothing in 1999

However, Jay-Z continued to keep his creative control and stake in the company's operations. 

Using platform to serve the greater good

Since 2013, Jay-Z has been funding Shawn Carter Scholarship Fund, which helps economically challenged students to attend college.

Funding Shawn Carter Scholarship Fund since 2013

Earlier in 2017, he announced that he would be donating to organizations like Color of Change and Southerners on the New Ground.

Will be donating to Color of Change in 2017

In 2016, Roc Nation and his music streaming service, Tidal donated about $1.5 million to various organizations like Black Lives Matter.

Roc Nation and Tidal donated about $1.5m in 2016

These are the smart strategies Jay-Z has build his nearly billion dollar empire with. Hopefully, these savvy business tactics of the rapper may be helpful for you too. Let us know in the comment.