Jay-Z Vs. Warren Buffett In The Forbes 400

Many weeks ago I mentioned on these pages something I’d worked on that was strange and awesome and I could not talk about, even though I was excited to tell the world. This is it.

Today everyone at Forbes is excited to present the new edition of the annual Forbes 400 — our list of the richest people in America. As always, it tracks the movement of the super wealthy; on top this year yet again is Bill Gates, with an estimated net worth of $53 billion.

Gates on top is no surprise –but the cover story for the 400 issue is something new that I’m proud to be a part of. The first Forbes 400 Summit brought together the old and new school of American wealth; Warren Buffett, the most successful investor of all time, and Jay-Z, one of the most successful musicians ever. They met in Buffett’s home town of Omaha, Neb. to share their different perspectives on success and wealth, and to talk about the social obligations that come with each.

Why Jay-Z? ShawnCarter, better known by his stage name, is one of the most top recording artists in history, having sold approximately 40 million albums worldwide. In 2007, he tied Elvis Presley for the most number one albums by a solo performer; he went on to break the record in 2009. Today, only The Beatles have more number one records –19 to Jay-Z’s 11.

But Jay-Z’s more than a musician. His artistic and public persona is tightly linked with entrepreneurialism. Born poor, he made his own fortune, and put it to productive use, building businesses and enduring products. He’s founded companies including Roc-A-Fella Records and Rocawear; run others including Def Jam Records; and has stakes in businesses from pro basketball’s New Jersey Nets to cosmetics retailer Carol’s Daughter. With an estimated net worth of $450 million, we think he’s a billionaire in the making –one of the 15 tech moguls, hedge-funders, athletes and entertainers with a strong chance of breaking into the Forbes 400 ranks this decade.

In the pages of this year’s Forbes 400, Buffett and Jay-Z share their wisdom and talk about the future of American wealth. You can read some of their conversation here and watch video highlights of the meeting here. It’s a fascinating discussion.

(For the record, the specific weird thing I’d done that I really wanted to talk about? Burning a mix CD of Jay-Z tracks for Steve Forbes. It’s one of the strangest –and best– moments I’ve had in ages.)