Jay-Z Gets Backlash For Refusing To Loan His Cousin Money
by Preethi | Updated Oct 05, 2023
Jay-Z Gets Backlash For Refusing To Loan His Cousin Money
Jay-Z, a very successful rapper and businessman, recently faced criticism because he refused to lend money to his cousin. In a 2022 interview with Kevin Hart, Jay-Z talked about how his cousin asked him for $4,800 to start a business. Jay-Z, who is known for his wealth and once famously said, "I’m not a businessman, I’m a business, man," turned down the request.
Jay-Z's career began in music, where he became a famous rapper and also a co-CEO and part-owner of Roc-A-Fella Records. He made significant deals, like selling part of Roc-A-Fella to Def Jam and later partnering with Live Nation to create Roc Nation, a company worth nearly $200 million.
In the interview with Kevin Hart, Jay-Z shared an example of his cousin asking for money during Thanksgiving. His cousin claimed that the loan would lead to a $2 million profit. However, Jay-Z refused, explaining that it doesn't work that way. This decision caused backlash on social media, with people criticizing Jay-Z for not helping his cousin despite being a billionaire.In simple terms, Jay-Z faced criticism because he didn't lend money to his cousin, even though he's very rich, and people expected him to help.
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Who is Jay-Z?
Jay-Z, whose real name is Shawn Corey Carter, is a highly influential and successful American rapper, songwriter, and businessman. He's known for his impactful contributions to the hip-hop music genre and is considered one of the greatest rappers of all time. Beyond music, Jay-Z has built a remarkable business empire that spans various industries, including clothing, beverages, real estate, sports teams, and record labels.
He co-founded Roc-A-Fella Records and has released several acclaimed albums like "The Blueprint" and "4:44." His entrepreneurial spirit has led to the creation of brands like Rocawear and investments in companies like Armand de Brignac champagne and Tidal music streaming service. Jay-Z's net worth is estimated at $2 billion, making him one of the wealthiest and most influential figures in the entertainment and business world.
Name
Shawn Corey Carter
Known as
Jay-Z
Born
December 4, 1969
Age
53
Birthplace
Brooklyn, New York City, U.S.
Other Names
The Carter Administration,
Jigga, Hova, El Presidente, HOV
Occupations
Rapper, songwriter, record producer,
entrepreneur, record executive, media proprietor
Years Active
1986–present
Spouse
Beyoncé (married in 2008)
Children
3, including Blue Ivy
Musical Genres
Hip hop
Labels
Roc Nation, Atlantic, Def Jam, Roc-A-Fella,
NorthWestSide, Priority, Payday, FFRR
Member of
The Carters
Jay-Z Age
Jay-Z, born on December 4, 1969, is currently 53. Throughout his career, he has not only excelled in the music industry but has also ventured into various business endeavors. From co-founding Roc-A-Fella Records in the 1990s to becoming the president of Def Jam Recordings, where he helped launch the careers of artists like Rihanna and Ne-Yo, Jay-Z has consistently demonstrated his leadership and business acumen.
Jay-Z Early life
Jay-Z's early life saw him grow up in a tough neighborhood in Brooklyn, New York. Raised by a single mother, he faced challenges and temptations of street life but found solace in music. His journey from a young hustler to a successful artist and entrepreneur is a testament to his determination and talent.
Jay-Z's experiences in the urban environment and his early struggles have informed his music and business decisions throughout his life. Jay-Z's diverse career has encompassed music, entrepreneurship, and sports ownership, showcasing his versatility and vision.
Jay-Z Career
Jay-Z's career has been a remarkable journey marked by numerous achievements. He started as a rapper in the 1990s and co-founded Roc-A-Fella Records, which played a pivotal role in his rise to stardom. His music career took off with hit albums like "Reasonable Doubt" and "The Blueprint," solidifying his position in hip-hop.
In addition to music, he ventured into the business world, founding Rocawear and becoming the president of Def Jam Recordings. His decision to create Roc Nation marked a significant turning point, as it allowed him to expand his influence in the entertainment industry and mentor emerging artists.
He's been a part-owner of the Brooklyn Nets NBA team, founded the 40/40 Club sports bar chain, and invested in numerous projects, such as the Roc Nation School of Music, Sports & Entertainment. His wealth primarily comes from music, investments, and business ventures, including his stake in Armand de Brignac champagne and the sale of his interest in D'Usse cognac.
Jay-Z Personal life
In his personal life, Jay-Z is famously married to Beyoncé, one of the world's most prominent singers. The couple has kept their relationship mostly private but is known for their combined wealth and influence. They have three children together, including twins Rumi and Sir, born in 2017.
Jay-Z and Beyoncé have made substantial real estate investments, including multi-million dollar homes in California. Despite their high-profile status, they maintain a relatively low-key approach to their personal life, believing that it helps protect their relationship.
Jay-Z Filmography
1998
Streets Is Watching
2000
Backstage
2002
State Property
2002
Paper Soldiers
2002
Paid in Full (Producer)
2004
Fade to Black
2013
The Great Gatsby (Executive Producer)
2013
Made in America (Documentary)
2014
Annie (Producer)
2018
Rest in Power: The Trayvon Martin Story
2023
Teddy (Executive Producer)
Year
Title
Jay-Z Net Worth
Jay-Z's net worth is estimated at a staggering $2 billion, making him one of the wealthiest individuals in the entertainment and business industries. His wealth comes from a combination of sources, including his highly successful music career, which includes hit albums and lucrative tours. Furthermore, Jay-Z has made smart investments in various businesses, such as Armand de Brignac champagne, D'Usse cognac, and the Tidal music streaming service.
Jay-Z Gets Backlash For Refusing To Loan His Cousin Money - FAQs
Jay-Z faced backlash for declining to lend his cousin $4,800 to start a business, despite his immense wealth.
Jay-Z refused the loan request, explaining that it doesn't work that way, leading to criticism.
Jay-Z is a famous American rapper, songwriter, and successful businessman.
Jay-Z, born on December 4, 1969, is 53 years old.
Jay-Z grew up in Brooklyn, New York, facing challenges, and later found solace in music.