“I just need Jay-Z, the new Alan Greenspan.” Reaction followed from the likes of the Wall StreetJournal and Mad Money host Jim Cramer, who suggested that, along with reports that supermodel Gisele Bündchen no longer wanted to be paid in U.S.
“I don’t need the chairman of the Federal Reserve to tell me about the state of our economy,” wrote Mark Olson of the Chaska Herald. But those bank notes aren’t the greenbacks that are customary in hip-hop videos- they’re euros.Ī columnist for a Minnesota newspaper noticed, and surmised that the switch reflected the U.S. In the video for the single Blue Magic, Jay rides around New York City in his Rolls-Royce, dropping rhymes about Gucci sneakers and diamond chains while he flashes stacks of cash. His every move is dissected by the street but now, Jay-Z is also being watched by The Street. When he disses something, that gets noticed, too-as the Louis Roederer winery discovered last year, when Jay boycotted their status-symbol champagne, Cristal. The clothes he wears and the cigars he smokes start trends, and the products flashed in his videos become instant commercial touchstones in urban pop culture. Jay-Z’s talent and success make him the most influential person in hip hop. He then parlayed his skill on the microphone and the lessons he learned as a street-level entrepreneur into a business empire-including a record label, a clothing line and part ownership of an NBA team-and a personal fortune in excess of half a billion dollars. Born into poverty in Brooklyn’s notorious Marcy Houses project, where he dealt drugs as a teenager, Carter became a hip-hop star under the name Jay-Z. Shawn Corey Carter is the American dream.
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