As a businessman, hip-hop icon JAY-Z has his hands in everything from cannabis to book publishing. The billionaire Brooklyn native’s latest venture has him getting into the fitness industry.
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JAY-Z Investing In Fitness Company
JAY-Z’s Marcy Ventures has invested in LIT Method, a fitness company that makes at-home workout equipment and offers on-demand workout sessions. Marcy Ventures was launched two years ago by the Grammy-winning rapper and partners Jay Brown and Larry Marcus from Roc Nation.
“The best things are built together. ⚡️ INTRODUCING OUR NEW PARTNERS: Jay-Z, Jay Brown, Larry Marcus, and 5X MLB All-Star Adrian Gonzalez. … Securing funding from this elite group of investors allows us to support the growing demand for the patent pending LIT Strength Machine, expand our product line, and most importantly – make Low Impact Training accessible to people across the country and ultimately the world.”
JAY-Z Explains Why It Takes More Than Music To Build An Empire
Shawn Carter knows he’s got to keep up the hard work to keep his empire going. During a recent interview, Hov spoke on all the major moves he continues to make with the South China Morning Post as his net worth also made a massive increase.
“I look at the make-up of individuals or a group and say, ‘Hey, wow, that’d be a cool group to hang out with” … It’s a certain decorum that they have, a certain way that they carry themselves and their business, [with] high integrity and passion for what they do. I just want to be surrounded by great people.” (JAY-Z to SCMP)
JAY-Z Sells TIDAL To Square
The rap mogul is no longer head honcho over at streaming giant TIDAL. He’s inked a major deal for some major money with a business partner/friend to part ways with complete ownership of TIDAL. Twitter CEO Jack Dorsey and his company Square (a digital payment service) has bought TIDAL for $297 million. While Hov no longer owns the streaming service, he’ll move to Square’s board of directors. TIDAL’s artist owners will continue to co-own the platform, as the second largest group of shareholders.
Upon his well-publicized acquisition of the service in 2015, from the Norwegian company Aspiro, JAY-Z brought aboard artist owners including Kanye West, Nicki Minaj, Madonna, Lil Wayne, J. Cole, Coldplay’s Chris Martin, Arcade Fire’s Win Butler and Régine Chassagne, Rihanna, Jack White, Daft Punk, and others. Their stakes in the company—and their financial windfalls from the sale—were not made public. (Pitchfork)
JAY-Z + MONOGRAM Look At The Bigger Picture
The hip-hop giant is operating on a higher level, beyond just making money. His cannabis brand, MONOGRAM, is using its new ad campaign to address systemic racism and legislative hypocrisy. A new series of ads from JAY-Z’s MONOGRAM cannabis brand take a harsh look at some hypocritical realities of the cannabis business. The ads point out how there are tougher laws targeting marijuana than things like incest and bestiality.
Soon after Shawn Carter, aka Jay-Z, debuted his cannabis brand Monogram last fall, his team came out with a daring campaign that parked billboards alongside borders of states reflecting the legal/illegal divide on recreational cannabis use. Now, the company is out with another provocative push that challenges the hypocrisies of cannabis legislation. The outdoor ads call out laws that ban cannabis-related activities yet don’t restrict behaviors many would likely consider questionable or wrong—like bestiality, cannibalism or first-cousin marriage. (AdAge)