Jay-Z's entry into the cannabis industry comes after several other entertainers threw their hats into the ring.
Jay-Z is already a billionaire, but the mogul is expanding his empire further with the help of Mary Jane. Yes, you read that correctly. Hova announced his decision to partner up with California-based cannabis company Caliva. According to a statement released by the rapper, Jay-Z will be joining the company as a Chief Brand Strategist as a part of a multi-year partnership.
Jay-Z was officially announced as a billionaire earlier this year, but he isn't content with where he's at...— XXL Magazine (@XXL) July 9, 2019
Hov just entered the weed business ⬇️https://t.co/vLW5R6sjb7
Rolling Stone reports that Jay-Z will be providing Caliva with outreach efforts, creative decisions, as well as strategy. But Hova's main point of focus will be on social justice issues and the legalization of marijuana. To be more specific, Jay-Z will work towards helping people who were incarcerated with better representation. His efforts with Caliva will also aid in the participation of ex-prisoners with getting jobs at legal weed businesses.
Jay-Z's statement reads: "Anything I do, I want to do correctly and at the highest level. With all the potential in the cannabis industry, Caliva’s expertise and ethos make them the best partners for this endeavor. We want to create something amazing, have fun in the process, do good and bring people along the way."
"We know the system don't work, take a young nigga freedom over some dirt; yet it's legal in Colorado, yet we deny Black entrepreneurs free enterprise" https://t.co/ZMqmNhnP9L— AintNoJigga (@AintNoJigga) July 9, 2019
Hova's decision to partner up with Caliva came after the rapper conducted an extensive search and study for suitable business investments, specifically in the legal cannabis industry.
Jay-Z is the latest celebrity to enter the cannabis space https://t.co/3Po5dZ8sRa— MassRoots (@MassRoots) July 10, 2019
Dennis O'Malley, the CEO of Caliva, said: "For Jay-Z to seek out Caliva as a partner is humbling and confirms our mission of being the most trusted name in cannabis. To find that we were in complete alignment around our values and ethos was just a home run. We believe this partnership is unparalleled in this or any business and we could not be more pleased to be working with him and have him as our Chief Brand Strategist."
Jay-Z just added a new industry to his billion-dollar portfolio: weed. https://t.co/fFIsNsj53C— MERRY JANE (@MERRYJANE) July 9, 2019
Jay-Z's entry into the cannabis industry comes after several other entertainers threw their hats into the ring. Snoop Dogg launched 'Leafs by Snoop' in 2015, and last year rapper B-Real opened his own dispensary called 'Dr. Greenthumb's'.