Jay-Z has spent decades making successful records, business ventures and investments. And now he has a new title to show for it: billionaire.

A new piece in Forbes has declared Jay-Z as the first hip-hop artist to become a billionaire thanks to the worth of his various business ventures and investments. Previously, Jay had been estimated to be worth $900 million, and together he and wife Beyoncé were deemed a combined billion-dollar couple back in 2017.

Born Shawn Carter, Jay-Z put out his debut record, Reasonable Doubt, in 1996, and since then has sold more than 100 million albums around the world. 12 of his 13 albums have gone platinum in the United States alone.

His business ventures, though, have likely made him even more money than music did. Jay-Z co-created fashion retailer Roc-A-Fella in 1999, and in 2007 the company was purchased for $204 million.

Jay-Z's entertainment company, Roc Nation, also has a sports agency division that represents superstar athletes like Kevin Durant and Robinson Cano, and he owns streaming service Tidal. Jay has also had a lucrative deal with Live Nation Entertainment for over a decade, signing to another 10-year agreement with the company in 2017.

In addition, Jay-Z's investment portfolio continues to grow, thanks in large part to his stake in Uber (UBER) - Get Report . His stake in Uber is worth $70 million -- the same amount his art collection is reportedly worth.

With so many successful assets, Jay-Z reaching billionaire status seemed an inevitability. Now, it's official.