Jay-Z proves how rich he is by passing up on $1 million every week
What’s $1 million to someone that’s close to billionaire status? Chump change.
According to a recent report by Billboard, Jay-Z could be missing out on almost $1 million a week by keeping 4:44 off of Spotify.
During its first week, Hov’s fourteenth studio album hit the number one spot on Billboard and has now notched a second week at the top of the charts. The album was released exclusively on Jay-Z’s streaming service Tidal and has made its way to Apple Music and Amazon.
Why would Hov miss out on Spotify, the world’s biggest streaming outlet? He pulled his music off the streaming service this past Spring due to nonpaying customers still having access to albums on shuffle.
According to Billboard, “the move reflects Jay-Z’s grievance with Spotify over what he perceives as its role in devaluing music by giving free users the ability to play any album or artist catalog on shuffle.”
Sources revealed that artists really don’t make that much off of streaming royalties. According to Billboard, Spotify only dishes out around .0044 of a cent per stream. Apple pays almost double that at .008 cents per stream.
Hov expressed to Billboard that streaming royalties aren’t paying for his new twins’ diapers,
“I’m guessing the diapers for those wonderful new children aren’t being paid out of streaming royalties.”
Even though it is chump change to him, what else could Hov be doing with an extra $1 million a week? A whole lot.
For the 2016 to 2017 academic year, the average cost for in-state public college was around $25,000, according to a study done by the College Board. An extra $1 million could pay a year’s tuition for around 40 students!
If 4:44 keeps doing well and does bring a million bucks per week that could pay for 208 students. Looks like Hov could do a little blessing with that chump change. Take that Spotify money and put it in the Shawn Carter Foundation.
Jay-Z could also continue his mission to reform the prison system. He’s already sat down and discussed criminal justice reform with New York Governor Andrew Cuomo, urging lawmakers to do a full examination of the broken system.
In addition, this year for Father’s Day, Hov bailed out incarcerated fathers. He expressed in an op-ed he penned for Time how exploitative the for-profit bail bond industry is.
“If you’re from neighborhoods like the Brooklyn one I grew up in, if you’re unable to afford a private attorney, then you can be disappeared into our jail system simply because you can’t afford bail. Millions of people are separated from their families for months at a time — not because they are convicted of committing a crime, but because they are accused of committing a crime.”
Hov has the chance to “rinse the neighborhood.” Jay could take that $1 million and invest it in an organization that helps father’s get back to their families on Father’s Day, especially if they can’t afford their bail.
Just some food for thought. Never sleep on any bread, it’s what makes the world turn and with it, a whole bunch of people who are less fortunate can be helped.
Just saying Hov, maybe you should reconsider losing out on $1 million per week.