Warren Buffett's 13-year-old Interview With Jay-Z Goes Viral After Rapper¡¯s Net Worth Hits $2.5 Billion

13 years ago, Warren Buffett and rapper Jay-Z sat together for an interview at the first Forbes 400 Summit on the veteran investor¡¯s home turf in Omaha, Nebraska, in the U.S.

In that interview, one of the world¡¯s greatest ever investors, Warren Buffett mentioned something about the rapper which has made this old interview viral again.

What Warren Buffett Said About Jay-Z

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While replying to interviewer Steve Forbes¡¯ question ¡°Fifty years from now, when people say Warren Buffett, what words will come to mind?¡±, Warren Buffett had answered Berkshire Hathaway. He also went on to appreciate Jay Z¡¯s business sense.

Buffett said that Jay is teaching in a lot bigger classroom than I'll ever teach in. They're going to learn from somebody. For a young person growing up he's the guy to learn from.

It seems that Buffett believed in Jay-Z and his money-making advice much before the rapper went on to become a billionaire and earn millions of dollars.

Jay-Z was also crowned hip-hop's first billionaire in 2019, thanks to a sprawling and diversified empire. He currently has a net worth of $2.5 billion as per Forbes' latest estimates.

In the same interview with Buffett in 2010, the rapper had said ¡°You know, music is like stocks, too. There's the hot thing of the moment. There's this hot, electro sound, or the hot auto-tune voice, or the hot whatever's new and exciting. People tend to make emotional decisions based on that. They don't stick with what they know, you know, this is who I am. This is what I do. They jump on this next hot thing. And it's not for you.¡±

How Jay-Z Is Minting Millions Of Dollars

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Forbes had pegged Jay-Z's net worth at $1.4 billion just last year but according to a recent report by the publication, his wealth grew in recent years thanks to his sprawling and diversified empire which included his entertainment company Roc Nation, sale of the streaming service Tidal and investments in companies including Uber, a move that has been credited as contributing majorly in getting him over the $1 billion mark.

He also had stakes in Armand de Brignac champagne and D¡¯Usse cognac valued at over $400 million at the time, apart from various investment properties in New York and Los Angeles.

¡°Even in a year without a tour or album release, Jay-Z mints millions from his Armand de Brignac champagne and D¡¯Usse cognac,¡± the Forbes report stated, adding that his fortune is enough to make him the 1,210th wealthiest person in the world.

Last year, as per a Money Control report, Jay-Z opened up about how he functions as a businessman on a talk show. When talking about family and others propositioning him for business deals and investments, he said, "I try to explain to them that it doesn't work that way, money is not just given away, and no one just gives you opportunities. If it sounds too good to be true, it probably is."

Also Read: How A Lost iPhone Led To Warren Buffett Investing Billions In Apple

Trait Jay-Z Shares With Warren Buffett

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A follower of investing in businesses that he can understand and not in the "next hot thing", a trait that Jay-Z shares with Warren Buffett, the rapper had told Forbes in 2010, "It¡¯s the discipline not to get caught up in the moment."

"People tend to make emotional decisions based on that. They don¡¯t stick with what they know, you know, ¡®This is who I am. This is what I do.¡¯ They jump on this next hot thing. People fall in love with shiny things," he told the publication.

Also Read: How Warren Buffett's $300 Million Help Saved Harley Davidson

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