American rapper Jay-Z has become the first hip-hop artiste to amass a US$1 billion fortune, according to Forbes magazine.

Axar.az reports citing Forbes.

Jay-Z has now reportedly hit the top 400 Club and, according to Forbes, the $1 billion figure is conservative.

“Jay-Z's steadily growing kingdom is expansive, encompassing liquor, art, real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies like Uber,” said Forbes, a globally respected wealth watcher.

His meteoric rise to billionaire status has been described as quite impressive given where he started: Brooklyn’s notorious Marcy housing projects.

“He was a drug dealer before becoming a musician, starting his own label, Roc-A-Fella Records, to release his 1996 debut, Reasonable Doubt. Since then he’s amassed 14 No. 1 albums, 22 Grammy awards and over $500 million in pretax earnings in a decade,” Forbes noted.

Jay-Z has been much more than a rapper, realizing that he needed to build how own brands rather than promote someone else’s. As such, he started the clothing line Rocawear in 1999 and sold it for $204 million to Iconix in 2007). His brands also include D’Ussé, a cognac he co-owns with Bacardi; and Tidal, a music-streaming service.