Ironically, despite being my personal favourite, JAY-Z’s poetic lyricism and two decades worth of discography is not what deciphers him from his hip hop peers, although it certainly helps. Joyce Li has explained the mastery behind JAY-Z as business mogul the rapper’s career and success “has shown that acquiring stakes across multiple industries will diversify income streams and reduce volatility since the investor is now more exposed to growth opportunities in different asset classes.” However, in my view, this is not what makes JAY-Z great or even unique. He has crafted and built a dynasty centred on a number of entrepreneurial pursuits ranging from music, luxury goods, fashion and investment. Īt this rate, JAY-Z’s commercial success is undeniable. Combined, these deals added 40% to Carter’s already staggering net worth, which, according to Forbes magazine, currently sits at over $1.4 billion, earning the 99 problems rapper the title of hip hop’s first billionaire. In the first quarter of this year, it was announced that Carter had sold his 50 per cent stake in the champagne brand, Ace of Spades, to luxury goods company, LVMH, for a jaw-dropping $600 million. It was also during this time that Carter struck a deal to sell a majority stake in his premium music streaming service, Tidal, to twitter founder, Jack Dorsey, for almost $300 million. For I doubt even JAY-Z himself could have imagined in 2008 that he was only in the infancy of what would become a hip-hop empire. When Sean ‘JAY-Z’ Carter rapped ‘I’m not a business man, I’m a business, man,” little did he know he was speaking into existence the eventual reformation of his identity on the musical and cultural stage that would take place over the next ten years. Published as part of our ‘Deep Dive’ Section, promoting in-depth pieces which analyse underrepresented issues and challenge conventional narratives.The deal is worth $250 million, a source who is close to the deal said.By Laura Maxwell, Contributor and undergraduate at King’s College London I’m proud to play a small role in bringing it back, and in some cases, introducing the authenticity and quality of the Mitchell & Ness brand to a new generation.” “I was an early adopter of this brand, as well as a part of a departure from athletic wear. Mitchell & Ness is a true classic,” Jay-Z said in a written statement. “Fashion is cyclical, but classics are forever. The remaining 25 percent will be distributed among the investors, like Jay-Z, Meek Mill, Maverick Carter, LeBron James’s business partner, Lil Baby, and the TikTok influencers D’Amelio family, and others Complex reports.
Michael Rubin, founder, and CEO of online sports retailer Fanatics and co-owner of the Philadelphia 76ers, will retain 75 percent ownership of Mitchell and Ness. Jay-Z, Meek Mill, and several other celebs have partnered to purchase Mitchell and Ness, a highly revered Philadelphia sportswear company. Or he could be dipping into the stash for a company that he has recently bought into.
#THE TAKEOVER JAY Z VIDEO TRIAL#
The three-week October trial ended with a jury ruling in Jay-Z’s favor.
In 2016, Parlux launched a $68 million lawsuit against Jay-Z, accusing him of failing to uphold his end of a 2012 contract to promote his Gold Jay Z fragrance, Page Six reports.
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