When it comes to being a businessman, Jay-Z has done everything right. He’s expanded his portfolio, handpicked a wife that can only upgrade his net worth and even cut a few corners when it comes to spending. Unfortunately, allegedly the spending that he’s cut corners on just so happens to be on the very scholarship fund that he created via the Shawn Carter Scholarship Foundation.
According to tax records dug up by The Daily, Hov only chipped in a whopping $6,431 to the charity in 2012. To put it in perspective, he earned an estimated $63 million that year. That’s roughly .01% of his total earnings. If you think that’s bad, his superstar wife Beyoncé gave her hubby’s charity a big fat nothing in 2010 while she raked in a Forbes estimated $87 million.
What’s really peculiar about this whole ordeal is the fact that Jay-Z has been known to be a charitable kind of guy. He’s scheduled to rock Carnegie Hall in New York City tonight with the proceeds split between his charity and the United Way of New York. So perhaps it is his accountant that dropped the ball in making sure that his own charity that his mother Gloria Carter is the current CEO of was flush with some of his own coin. It doesn’t sound like Jay-Z is the kind of guy to leave an organization that his mother runs out in the cold when it comes to helping out financially.
According their website, the Shawn Carter Scholarship Foundation was established back in 2003 and has given over $1.1 million in scholarships to over 750 students. Whether or not any of that $1.1 million has come directly from the deep pockets of Jay-Z is anybody’s guess.
Nevertheless, Jay-Z’s representative Jana Fleishman reportedly declined to state if Jay’s own money has been contributed to the fund since 2010 but did cite that a 2011 performance at the Carnival at Pier 54 event raised $1.25 million for the charity.