Why He's No. 2

Jay-Z has elevated multitasking to a new level. In addition to his own musical pursuits, this Brooklyn native also sits atop the Roc-A-Fella empire, overseeing the operations of Roc-A-Fella Records, Roc-La-Familia, Roc-A-Fella Films, and Rocawear -- a lucrative urban fashion house with annual retail sales exceeding $700 million. And as a leading entrepreneur within the hip-hop fashion industry, Jay-Z is single-handedly responsible for redirecting old-school hip-hop culture from oversized sweatshirts and baggy jeans to more refined dress shirts and tailored pants.

As if that weren't enough, he's also a co-owner of a high-scale sports bar called The 40/40 Club, and he's a minority owner of the New Jersey Nets.

Jiggaman, as he's sometimes known, admits that being an entrepreneur comes naturally to him. "I was forced to be an artist and a CEO from the beginning, so I was forced to be like a businessman," he explains. "When I was trying to get a record deal, it was so hard to get a record deal on my own that it was either give up or create my own company."

For all these endeavors, Jay-Z was honored with GQ's International Man of the Year award in 2005.

Jay-Z is also known for his long-term relationship with singer and former Destiny's Child headliner, Beyonce. The pair was listed as a top Power Couple on Time Magazine's list of the 100 most influential people of 2006. The two remain very private about their courtship; Jay-Z told People: "We don't play with our relationship."

Back Stage

Look for Jay-Z to be busier than ever in the year ahead. Apart from directing the careers of artists such as LL Cool J, Mariah Carey and Ludacris, he'll also be joining forces with the UN to help combat a global water shortage. "As I started looking around and looking at ways I can become helpful, it started with water. Something as simple as water," he says. "Young people need to know the problem exists."

On November 21, 2006, Jay-Z will also be making a comeback with a new album called Kingdom Come, which features The Neptunes, Swizz Beatz, Timbaland, Kanye West, Cool & Dre, The Runners, and Coldplay's Chris Martin.

Forcaste

Hip-hop impresario Jay-Z is the current president of Def Jam and Roc-A-Fella Records -- one of the world's most powerful musical labels. Prior to becoming a top-ranked exec, Jay-Z was also a multiple Grammy Award-winning artist who had an extraordinary six consecutive albums debut at No. 1 on the Billboard charts. "They say a midget standing on a giant's shoulders can see much further than the giant," he boasts. "So I got the whole rap world on my shoulders; they trying to see further than I am."