Diddy was “the wealthiest hip-hop act” of the year last year, but this year, it is a different story. The “Forbes Hip-Hop Wealthiest Acts of 2018” has crowned a new king, and it is JAY-Z.
JAY-Z has never made it to the top of this list before, but in 2017, he made $900 million. In 2016, he only made $810 million and that landed him in the second spot. JAY-Z increased his net worth by such a degree because he is involved in so many successful business ventures, and some of those are the streaming enterprise known as “Tidal” as well as the brands D’Usse and Brignac. One of JAY-Z’s most notable businesses is Roc Nation, and Desiree Perez is currently the Chief Operating Officer of this company.
Diddy is a friend of JAY-Z, and he is also in the hip-hop industry, but he only made $825 million last year. In 2016, he made $820 million, so he only increased his pay by $5 million last year. Even so, his several ventures did very well for him, including his Ciroc vodka line, Revolt TV, the beverage company Diago and his DeLeon Tequila brand that continues to grow increasingly popular. Both moguls were showcased in the documentary “Black Experience A Short Film: What’s Better Than One Billionaire? Two.” The film praises them for their accomplishments and their excellence as Black men.
Dr. Dre pulled in $770 million last year, so he has been placed in the third spot, but he may be getting ready to steal the number one spot away in 2018. Eminem and Drake tied with $100 million each.
Desiree Perez Is In Control at Roc Nation
As the Chief Operating Officer of Roc Nation, Desiree Perez is one of the most dominant females in the music industry. Her name has landed prominently on the list of legendary music executives, and this list includes record label presidents, heads of marketing departments and promotion managers. Also on this list are the women who guided the careers of many of the most successful music artists of the past 20 years.
People can’t talk about JAY-Z without also talking about Ms. Perez because she has been instrumental in the evolution of JAY-Z as an artist who became a formidable business man. Desiree joined JAY-Z at Roc Nation in 2009, but she was a part of Shawn Carter Enterprises before she joined Roc Nation where she played a crucial role in expanding Mr. Carter’s business interests.
Desiree Perez has not been in the news lately because she is a master negotiator. It has been because the president of the Recording Academy Neil Portnow made a controversial statement. He stated that women in the music industry must “step up” if they want to advance their careers.
Music publishers and top female executives at the major record labels didn’t say anything about this comment in the beginning, but they are starting to let their voices be heard now. Six of the music industry’s most influential women added their signatures to a letter that was written to the board of trustees at the Recording Academy, and Desiree Perez was one of those women.
In the letter, the women stated that the organization is “woefully out of touch with today’s music, the music business, and even more significantly society.” They also implore the academy to develop an all-encompassing stance and be more sincere. These ladies didn’t ask the academy to ask Mr. Portnow to resign, but they did point out the fact that the president’s words meant that the academy has issues that it needs to resolve.
The result of the above-mentioned letter has largely been positive. The academy took immediate action and announced that it would organize a group of people who would “overcome the explicit barriers and unconscious biases that impede female advancement in the music community.”
It has been nearly 20 years, and Desiree Perez seems to have made the best of those years. In that time, she has come to be known for her negotiating skills. For example, she had success in haggling over the arrangements for the Beyonce Formation Stadium. She also was heavily involved in the deal that Rihanna developed with Samsung.
Jay-Z’s growing empire is due in large part to Desiree Perez. Her title as “Chief Operating Officer” of Roc Nation puts her in the middle of many facets of the business, including labeling operations, publishing and management. As part of Shawn Carter Enterprises, Desiree Perez also has a hand in the highly successful Tidal app.
Since February 22, nearly one million people have signed up for a trial membership on Tidal, and it is because Desiree Perez has tremendous talent for bringing in huge album exclusives. This is responsible for Tidal’s rise in the ranks that put it at a higher level than the point it was at with iTunes.
Desiree Perez is listed as the producer of “On the Run Tour: Beyonce and Jay-Z” from 2014.
Connect with Desiree Perez on Behance.