NEW YORK (CBSNewYork) – Rapper and Brooklyn’s own Jay-Z has become the first billionaire rap artist.

According to Forbes Magazine, the rapper, whose real name is Shawn Carter, has a net worth of at least $1 billion.

Jay-Z is also a streaming music mogul and owner of a sports management company.

Forbes says he has a $70 million stake in Uber and a $70 million art collection.