Grammy Award-winning comedian Dave Chappelle has revealed that Jay-Z, the African-American businessman and hip-hop’s first billionaire, has made some investments in properties in Ghana.
According to a report by Ghanaweb, Chappelle made the disclosure at a private event at the University of Ghana, saying that Jay-Z showed him pictures of the properties when he informed him about his plans to visit Ghana.
His investments in Ghana demonstrate his willingness to expand his portfolio and potentially tap into new markets, as Ghana, despite its recent macroeconomic issues, has a growing economy that has returned impressive gains to international investors in recent years.
In addition to its natural resources, the country has a young, educated population and a stable democratic government, making it an attractive location for investment.
The recent move by the African-American businessman and multi-industry creative comes after he expressed interest in bidding for the Commanders, a professional U.S. football team based in the Washington metropolitan area.
Despite experiencing a $100-million decline in his net worth in 2022, Jay-Z still has a net worth of $1.3 billion, making him the world’s 2,128th richest man, according to Forbes.
In February 2021, Moet Hennessy Louis Vuitton (LVMH) acquired a 50 percent stake in his champagne brand, Armand de Brignac, leading to an increase of $300 million in Jay-Z’s fortune.
In addition to the sale of a 50-percent stake in Armand de Brignac, also known as the “Ace of Spades,” Jay-Z received $297 million in cash and stock from Square, a U.S. mobile payments company, in exchange for a majority stake in his music streaming platform, Tidal.
Jay-Z’s $1.3-billion fortune includes a stake in the entertainment company Roc Nation, investments in the Armand de Brignac champagne and D’Usse cognac brands, a fine art collection, and an equity position in Square.