Jay-Z and Warren Buffett share some key qualities in their massive success. Here's how the 2 billionaires approach investing — plus what you can learn from their winning strategies

This isn’t just humility. It’s also a key part of the calculation that many successful investors like Carter and Buffett make before deploying money.

Here’s how to employ the strategies they both use to grow their enormous wealth.

Probabilistic thinking

Investors often lack clear information but still have to make decisions about where to allocate capital. To manage that uncertainty, they apply probabilistic thinking.

For example, data from Wealthfront suggests that your chances of losing money in the stock market can be reduced from 25.2% to practically 0% by extending your holding time from one year to 20 years. If you look at a stock’s performance on a yearly basis only, you can be blindsided by the up-and-down swings and fail to see the big picture.

According to Wealthfront, it’s better for an investor to hold a stock or fund for as long as possible.

If you’re looking to grow your wealth with a firm that uses a data-driven approach, consider an automated portfolio with Wealthfront.

Wealthfront is an investing and financial services company that can help you grow your money in a way that aligns with your risk preferences and investing goals.

You just need to answer a few questions, and Wealthfront can help you determine your optimal asset allocation by crafting a diversified portfolio spanning a range of assets — from stocks, ETFs and bonds to real estate.

Using a deep understanding of probability as a mental framework could help investors make critical decisions even outside the stock market. However, there are ways to shift the odds in your favor, including seeking expert advice on alternative investment types.

With Fundrise, you can get experts to analyze the data for you. With the investing platform, you get access to an expansive portfolio of alternative investment opportunities spanning real estate, private debt, and venture capital. With over two million investors and over $7 billion under management in real estate assets alone, Fundrise is an accessible way to diversify your portfolio with the potential of yielding dividends every quarter.

To get started, all you have to do is share some details about your personal and financial background, along with your investment preferences, and Fundrise will recommend a portfolio aligned with your goals.

If you’d like to take a more hands-on approach with your investing strategy, you can get expert human help with all aspects of your investment strategy.

Professional advisors — like those you can find through Advisor.com — can help you create a money management plan for all of your financial goals.

Advisor.com connects you with professionally vetted fiduciaries, financial advisors, and financial planners. All you have to do is answer a few questions and their algorithm will match you with the best options for you. You can then schedule a free consultation so you can decide if they're the right fit to helpy you achieve your goals.

Taking control

While thinking probabilistically, you may realize that many factors are beyond your control. You can’t control the volatility of the stock market, but you can control how and where you invest.

For instance, Carter frequently mentions his champagne brand, Armand de Brignac, by the nickname “Ace of Spades” in his songs. This ensured that when his tracks were hits, sales of the bubbly would follow. He eventually struck a deal with luxury beverage giant LVMH to secure distribution and unlock value in this venture.

Meanwhile, Buffett has often mentioned how extensive his due diligence process is and how he reads “500 pages a day” to make better stock-picking decisions.