Diddy. Warren Buffett. Jay-Z. Bill Gates. You don’t normally think of rap artists like Diddy and Jay-Z in the same league as legendary entrepreneurs like Buffett and Gates, but you should.
After all, Shawn “Jay-Z” Carter may be famous for being a rapper, but he also is part owner of the New Jersey Nets, started The 40/40 Club — a restaurant and lounge with locations across the globe — and owns Roc-A-Fella Records and clothing company Rocawear, among other ventures. Curtis Jackson, better known as 50 Cent, is worth a whole lot more than two bits. Some business and rap observers estimate he may be worth close to $1 billion, not because of his music hits, which are substantive, but because in 2004, he invested in Glaceau, the company that produces and distributes Vitaminwater and Smartwater. It was just purchased for $4.1 billion by Coca-Cola, and some have speculated that 50′s 10 percent stake in the company will translate to $401 million. Suddenly, it becomes clear: Gates who?
And it’s not just big-name rappers capitalizing on the power of branding. Lesser-known hip hop artists are building their own diversified empires, as well. So just what can entrepreneurs learn from the rap game?
