He's doing pretty well compared to the rest of the country, but not everything is coming up roses!
Jay-Z is somewhat of a jack of all trades, but many of his investments are heading downwards.
His hotel development projects in Manhattan have already fizzled out costing him $50 million and his 40/40 Club franchise is [...]
He's doing pretty well compared to the rest of the country, but not everything is coming up roses!
Jay-Z is somewhat of a jack of all trades, but many of his investments are heading downwards.
His hotel development projects in Manhattan have already fizzled out costing him $50 million and his 40/40 Club franchise is doing well enough to get by, but not as well as expected.
His investment in the Broadway musical Fela! has yet to turn a profit and his 1.5 percent stake in the New Jersey Nets hasn't proved to be a worthy investment either with the team not doing so well.
But Jay-Z is still killing it when it comes to music and fashion, so it's a certainty he'll retain his massive wealth, even with a few missteps. Dan Charnas, the author of The Big Payback: the History of the Business of Hip Hop says:
"The first thing about Jay-Z is, he's got a lot of breadth to his holdings. He has that combination of vision, ability, fame and the power to execute working with the right people."
That's for sure! We think he'll be just fine.
[Image via WENN.]
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