Music mogul and entrepreneur Jay-Z has created a larger than life name for himself over the years. From the streets of Brooklyn, he used rap as an escape from the crime of the Marcy Projects. Not only is his name synonymous with the music industry, but he has his hand in a number of other fields.
Now Jay-Z is turning his attention to the cannabis industry. According to Yahoo, he just signed a deal to join Caliva, Left Coast Ventures, and Subversive Capital Acquisition Corp with Roc Nation in what is expected to become the largest weed company in California. The rapper will be named Chief Visionary Officer.
How did Jay-Z make his money?
So many know Jay-Z for the huge success he's had over his lifetime, but he's never tried to hide where he came from. Born Shawn Corey Carter on December 4, 1969, he was born in a rough area of Brooklyn, NY. He's always been open about his life growing up and the struggles he's gone through in his music.
Biography.com summarizes this by saying mentioning that he's dealt drugs and has experience with gun violence. He turned to music to escape the crime around him and started to release music under the stage name Jazzy, shortening it to Jay-Z soon after. Some believe the stage name is also a reference to NYC's J and Z subway lines, which run near the Marcy Projects, but this is likely a coincidence.
To release his first album, Jay and two friends got together to found Roc-A-Fella Records. The album Reasonable Doubt dropped in 1996 and sold more than one million copies in the U.S.
About Jay-Z's cannabis brand, MONOGRAM
This latest venture for Jay-Z will be called MONOGRAM and have a luxurious take on the cannabis industry. The company's website allows people to buy different kinds of weed including nuggets and hand-rolled joints.
The website says the brand's cannabis is rolled in small batches to ensure quality and has a "board of cannabis experts" who personally select all the weed that's sold. The price reflects this with one hand-rolled joint costing $50. However, there's also a less expensive pack of four for $40.
How much is Jay-Z worth without Beyoncé?
Jay-Z's wife (a megastar in her own right) Beyoncé easily has her own music empire that has brought them tons of money. But even without her, Shawn Carter has a net worth of one billion dollars according to Forbes.
In addition to wealth from his music, Jay-Z gets millions from his Armand de Brignac champagne and D'Ussé cognac. He owns artwork by Jean-Michel Basquiat and until 2013 held a stake in the Brooklyn Nets.
What companies does Jay-Z own?
Jay-Z has owned a few different companies over the years. He had a successful clothing line, Rocawear, until 2007 and he founded the entertainment company Roc Nation in 2008. He later founded Roc Nation Sports in 2013.
In terms of philanthropy, Jay-Z founded the Shawn Carter Foundation alongside his mother, Gloria, in 2013. This venture is meant to assist people to afford advanced degrees and secondary education. Marcy Venture Partners (MVP) he co-founded alongside Jay Brown and Larry Marcus invests in consumer-focused startups.
What does Jay-Z invest in?
According to Investopedia, Jay-Z has invested in Black-owned companies like the haircare line Carol's Daughter. An article in Forbes talked about Jay-Z personally investing in other ventures such as Uber, Impossible Foods, JetSmarter, Julep, and Promise. Through MVP, Jay-Z has invested in ventures like Rihanna’s lingerie line Savage x Fenty.