Jay-Z made headlines after his $297 million deal with Twitter CEO Jack Dorsey, which made Dorsey's company Square a majority owner of Tidal, and it was revealed that the 16 co-owners of Tidal will make nearly $9 million off of the deal.
Among the co-owners are Beyoncé, Kanye West, Rihanna, Nicki Minaj, Usher, T.I., Alicia Keys, and Lil Wayne, who were given a 3% stake in the company when it launched. Jay-Z's net worth rose an estimated 40% following the Tidal deal and selling a 50% stake of his luxury champagne brand Armand de Brignac to luxury goods company Moët Hennessy Louis Vuitton. Forbes now reports that his net worth has now increased from $1 billion to $1.4 billion.
Jay-Z spoke about the Tidal deal, stating, "I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey. Jack and I have had many discussions about TIDAL’s endless possibilities that have made me even more inspired about its future."
Source: The Shade Room
