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With a power move that would make Bill Gates blush, rap mogul Jay-Z has returned to the number one spot for 2007 after losing the number one spot to P. Diddy in 2006.
Jay-Z reclaimed his spot with the sale of Roc-A-Wear to the "Iconix Brand Group," in March of 2007 which netted him $204 million, before taxes. Jay-Z will retain his stake in the company and will continue to oversee the marketing, licensing and product development. Jigga will also receive an additional $35 million dollars in "Iconix" stock if the Roc-A-Wear brand meets certain performance requirements over the next 3-5 years.
Jay-Z also co-owns The 40/40 Club, an upscale sports bar that started in New York City and has since expanded to Atlantic City, NJ. Future plans will see 40/40 Clubs in Los Angeles, Las Vegas and Singapore. Roc-A-Fella also distributes Armadale, a Scottish vodka, in the U.S. He is also the president of Def Jam Records in New York.
On October 16, 2006, Jay-Z's commercial spot with Anheuser-Busch aired, featuring his single "Show Me What You Got." Jay-Z will serve as co-brand director for Budweiser Select while collaborating with the company on strategic marketing programs and creative ad development. He will be providing direction on brand programs and ads that appear on TV, radio, print, and high-profile events.
Jay-Z is a part-owner of the New Jersey Nets NBA team paying a reported $4.5 Million. Jay-Z is also interested in relocating the team to Brooklyn.
In October 2005, he was reported in English media as considering buying a stake of Arsenal F.C., an English football team. However, at this point, this is still speculation.
FINANCIAL BREAKDOWN:
Jay-Z's wealth for 2007 is based on the following: The Rocawear sale (after corporate lawyer fees and taxes applied) is in the $150-$160 million range, his Def Jam salary ($3 million) his endorsement deals ($9 million) his publishing rights ($10 million annually) his annual income from his 40/40 clubs is ($5 million), his income from Armadelle Vodka nets him $13 million yearly, his royalties from "Kingdom Come,' netted him $2 million due to a high royalty rate (despite sluggish sales due to downloading ) and his consultant salary with Anheuser-Busch along with his NBA investment nets him a combined total of $5 million-and his $340 million carried over from 2006 brings the grand total to staggering: $547 million dollars. Highest dollar amount (Rocawear) calculated for overall total.
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