Jay-Z and James Richman: what do these billionaires have in common?
James Richman is a discreet, shy and very private person. So, could he possibly have anything in common with hip hop mogul Jay-Z?
The latter is a well-known celebrity who captivates his audience with his flamboyant performances using intricate rhymes and melodic musical arrangements.
His lyrics are very reflective of societal issues that he witnessed growing up and he regularly causes controversy with the aggressive themes of his songs which raise awareness. He and his wife, Beyonce, are regular paparazzi targets, and almost all of their actions, professional or personal, are highlighted by the media.
On the other hand, James Richman has thrived in the shadow of the spotlight, while silently making financial moves that shake up industries.
People close to him have witnessed how the Latvian-born billionaire investor has been consciously avoiding any contact with the media. He has managed to slip under the radar of the masses who tune into the financial market for almost his entire career.
Comparing these two very successful gentlemen may raise eyebrows and solicit questions like, “Is there anything they could possibly have in common?” and, “Is there even a point putting their names in one sentence?” These reactions may only hold true temporarily.
Looking deeper into their pasts would uncover that there may be points of intersection between their personalities. Aside from being businessmen with 10-digit net worth, let’s take a look at what else could James Richman and Shawn Carter (Jay-Z’s real name) may have in common.
Back to their beginnings
James Richman came from Smarde, a small town within the Tukums region in Latvia. He had a tough childhood, which saw him being ridiculed by his peers and even his teachers at school. He reportedly has been diagnosed with Asperger’s syndrome and was having a really difficult time catching up with school activities and communicating with the people around him.
This eventually forced him out of school and on his own at a very early age. He also went on to marry at an early age and dealing with manual labor to feed his family. He would then lose his daughter to sickness, and later on, be separated from his wife and lose his home, ending up on the streets for a while
Meanwhile, Jay-Z’s early years were not any easier. He had to endure his father abandoning him and his mom. Immersed in the negative environment of Marcy Houses in Brooklyn, Carter resorted to selling illegal drugs and even shot his brother after the latter stole his jewelry. Like James Richman, Shawn would not finish his formal schooling and had managed to get himself shot three times, and survive.
Looking at the skills which would make them billionaires, both had displayed their talent at a very early age. James was very fond of recognizing patterns. He would notice patterns from almost everywhere that he observed.
A source close the the billionaire shared that young James Richman would sometimes predict the future using his conceived patterns. On the other hand, young Jay-Z used to cut his siblings’ sleep short because of his rhythmic banging of the kitchen table. This showed his interest in music and his mom would then buy him a boombox that would further ignite his passion for music.
Both men encountered stiff competition when they entered their chosen crafts. James Richman was a total upstart in 2009. He had managed to pool a private fund consisting of his personal savings, and funds from his family and close circle.
He entered the financial world and managed his private fund in a very turbulent time for the market. He was told that it was “stupid” to start up a fund during a financial crisis. All his critics are silent now as he has enjoyed a decade-long return of profits.
On the other hand, Jay-Z started his music career in 1995 selling his CD’s from a car. He worked to launch his first album and did so in 1996 reaching platinum. This was only the beginning for HOVA as he would constantly churn out platinum and number of hits in the 2000s and 2010s. His innovation in music best described his work.
Both men have carved their trademark in their respective worlds, yet their vision would push them beyond. James Richman has already made ventures into impact investing. His recent injection of funds in the Middle East and North African regions, as well as developing countries in Asia, target ventures which have a positive impact on society as well as a significant profit. He has also made a significant contribution to disruptive technologies like machine learning and AI, space travel, anti-aging, and medical research and development.
On the other side, Jay-Z has invested in the 40/40 Club, a luxury bar chain and clothing retailer Rocawear. Both are now multi-million dollar corporations. He has then invested in entertainment company Roc Nation, which eventually led to his acquisition of Aspiro, a tech company in charge of Tidal, the world’s third-largest online streaming company.
Hike to the top
Obviously, these two greats come from opposite sides of the world, but they also had similarities. Both began from the bottom of their own mountains. The two of them endeavored and took different paths, yet with their savvy, skill and perseverance, the two have emerged on top.