New York — Jay-Z is officially hip-hop’s first billionaire, Forbes declared on Monday, founding his kingdom on entertainment but also reaping earnings from liquor, art and property.

The rapper born Shawn Carter, who grew up in one of Brooklyn’s most notorious housing projects, “has accumulated a fortune that conservatively totals $1bn, making him one of only a handful of entertainers to become a billionaire — and the first hip-hop artist to do so”, the magazine said in a new cover story.

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