Jay-Z’s Firm Stance on Borrowing as He Declines a $4,800 Loan to a Cousin, Emphasizing the Importance of Responsible Money Management

A resurfaced clip of billionaire Jay-Z suggesting he’d refuse to lend a cousin $4,800 has shocked and divided fans

Jay-Z interview

A Jay-Z video from 2022 became viral on social media.Peacock/”Hart to Heart”

Recently, Jay-Z’s remarks regarding money have resurfaced online and gained widespread popularity.There are many who believe the rapper declared he wouldn’t give his cousin $4,800.Several viewers were indignant with Jay-Z, whose Forbes estimate puts his net worth at $2.5 billion.

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Jay-Z's Net Worth: Unpacking Why He Denied Cousin a Loan

The billionaire musician Jay-Z’s resurrected remarks have left fans astonished and split. According to some, they implied that he would not lend his cousin $4,800.

The remarks were aired during a Peacock streaming service episode of “Hart to Heart,” a celebrity discussion show anchored by comedian Kevin Hart.

Although a portion of the video including the contentious remarks was published to YouTube in April 2023, the entire episode was initially made available in 2022.

The rapper talked on how money can separate people from friends and family throughout the episode, giving an example of a situation in which someone is approached by a cousin for a $4,800 loan to finance a business project they claim will bring in $2 million.

“You have to tell him that’s not how life works. Money isn’t given away. Nobody is providing opportunities.” “And then he like, ‘Oh, you don’t believe in my dreams,’” Jaz-Z continued. At that moment, the episode’s YouTube footage came to a stop.

Alex Rodriguez on X: "Always great to see my brother, Jay Z. Thanks for  coming to our home. #familia 🙌 https://t.co/nNW9XJf8Mq" / X

It’s not clear whether he was describing a hypothetical situation or a real event, but the clip was uploaded to the social-media site X, formerly Twitter, on September 30 along with the caption, “I’ll NEVER get over a billionaire saying some bullshit like this!”

After going viral, the post garnered over 35 million views, thousands of likes, and reposts. Viewers’ opinions were split, with some seemingly taking the comments to mean that the rapper’s life story had happened.

“Jay Z owns 2.5 billion dollars; he declined his cousin’s request for $4,800. To put that into perspective, that’d be the equivalent of someone who made 50,000 a year being asked to give a dime,” a user wrote in one viral post that received 80,000 likes.

According to Forbes, the “Empire State of Mind” rapper has a net worth of $2.5 billion, while his wife Beyoncé has a net worth of $540 million.

On October 3, the entertainment news account Daily Loud posted about the comments, saying, “JAY-Z says he refused to lend his cousin $4,800,” and receiving 22.9 million views.

As soon as the video went viral, a heated discussion broke out as people tried to figure out what the rapper actually meant to say and whether or not they agreed with it.

The insinuation that the artist wouldn’t lend money to a relative incited indignation from some X users. Others defended him, saying they felt he shouldn’t be obligated to give his money away and that personal loans can cause complications in relationships, with some sharing stories of making such loans themselves and regretting it.

A few individuals complained that there didn’t seem to be any context or that the rapper hadn’t stated clearly that he had rejected or would reject a cousin’s loan request. Insider’s requests for comments were not immediately answered by Jay-Z’s representatives.

Some fans defending the rapper said he had previously invested in his cousin’s restaurant business, as reported by the New York Post in 2011.

Jamar White, Jay-Z’s cousin, told the Post at the time, “Jay-Z’s always been like an older brother to me, but he’s also a businessman, and once he heard our plans, he was confident it would be very successful.”

In 2019, Jay-Z became the first hip-hop artist to reach billionaire status. While he initially made millions of dollars from his music, he continued to gain wealth from various business ventures, such as his acquisition of the music streaming platform Tidal and the success of Rocawear, a clothing brand he co-founded in 1999.

Updated: October 5, 2023 An earlier version of this story misstated Beyoncé’s reported wealth. According to Forbes, her net worth is $540 million, not $540 billion.

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