Steve Forbes of Forbes magazine recently coordinated a sit-down meeting with legendary billionaire investor Warren Buffett and former drug dealer-turned-rapper Jay Z in Omaha.

The meeting was part of the Forbes 400 Summit, and Forbes’ goal was to pick the brains of the two men to expose the secrets of their rise to success.

The cover piece describes Jay Z’s most recent chess move: buying his last album back from Def Jam so he, and only he, could reap the profits from the sales.

Big deal. He’s not the only rapper to buy his masters.

Jay-Z revealed that his last album, “The Blueprint 3,” which included the multi-platinum single “Empire State of Mind,” wasn’t originally set for release on his current Roc Nation imprint.

“The year I went over to create Roc Nation with Live Nation, I still had one album left to make with Def Jam. L.A. Reid, the chairman of Def Jam at the time, did a great thing for me. He allowed me to walk in and have the conversation with [chairman of parent company Universal Music Group] Doug Morris,” Jay said.

“I had to walk into Doug’s office the next day and buy an album back that might leak the next day…But it was worth it, you know. I was heading in a different direction and needed that freedom. It was a great decision for the company. They got some money. And a great decision for me.” [link]

The most interesting statement to come out of this incongruous meeting is 80-year-old Buffett’s musing that young people could “learn from” Jay Z — a former drug dealer who continues to glorify his criminal past.

“Jay is teaching in a lot bigger classroom than I’ll ever teach in,” Buffett said. “They’re going to learn from somebody. For a young person growing up he’s the guy to learn from.”

So Jay Z is a teacher now? This 40-year-old man who can’t even pull his pants up is teaching the youth of America? Please don’t make me laugh. Has Warren Buffet even listened to Jay Z’s music?

I respect Buffett’s business acumen, but he is clearly out of touch — and misinformed — when it comes to Hip Hop and it’s negative effects on the youth of America.

Jay Z may be the most prosperous and prominent rapper on the scene today. And he’s certainly smart enough to know when to put on a well-tailored suit and speak with near perfect grammar in mixed company.

But Jay Z is no role model or teacher. What he is is a great con artist.

If Jay Z really wanted to influence the youth of today in a positive manner, he could start by pulling his pants up.