So, Jay Z wearing the medallion does not make him racist to you even though when asked if it meant anything to him he said "A little bit". So either he's really stupid and doesn't know what it means or he does at least a "little bit" share the beliefs of the FPN. Which is it? Maybe you answered this before and I missed it.
Him wearing the medallion does not make him racist because you assume so. Him saying "a little bit" could mean anything. What did it mean to you? To me it sounds like he was either cautious because he smelled a setup or he really didn't care what it meant. Since I dont know him I can only guess which is the same thing you have the ability to do unless you know him.