Jay-Z
Rapper invests millions in cannabis companies
Jay-Z continues to invest in cannabis production in the USA.
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The rapper Jay-Z makes $ 10 million for the cannabis industry. He uses the money to invest in small business owners.
According to the US media, it will be the largest legal cannabis investment in US history to date: Jay-Z (51, "Decoded") will raise ten million US dollars (approx. 8.2 million US dollars) together with his company The Parent Company. Euros) into existing cannabis companies. The rapper is thus expanding his involvement in the drug that is legally available in large parts of the United States of America.
As early as the summer of 2019, he invested 1.5 million dollars (approx. 1.2 million euros) in the California cannabis logistics company Caliva and also acquired the manufacturer Left Coast. But this time, the native New Yorker, who comes from even the poorest of backgrounds, also combines his investment with social participation: The money is to flow exclusively to existing small businesses of African Americans and other minorities in the USA.
Shawn Carter, the real name of Jay-Z, is one of the leading people in the booming cannabis industry in the USA. The billionaire's empire is also active in the real estate business and has stakes in streaming services, model agencies and spirits manufacturers.