Jay Z’s Marijuana Company clinches 400,000kg Cannabis Production Deal…
Asides being one of the most successful rappers in the world, Jay Z prides himself as a business mogul. And by Mogul we mean, there is just about no industry Jay Z hasn’t tried his hands on.
From liquor to streaming services. In the first half of the year 2021, he finalized a deal with Jack Dorsey’s Square Inc. to acquire a majority stake in streaming platform Tidal and reportedly filed to trademark a TV and film production company. We’ve all come to know that he makes major deals that rake in cash, so it shouldn’t come as a surprise that his foray into the marijuana industry is also proving to be very profitable.
The Roc Nation boss is back to making headlines in the world of business having officially secured a new deal that will see 410,000 Kg of his product being legally produced. According to a press statement, Hov is also gearing up to become an owner of California’s largest cannabis producer after multiple multi-million dollar transactions.
It would be recalled that the rapper launched his cannabis brand ‘Monogram’ at the end of last year.
The Parent Company’s Chief Executive Officer Steve Allan had muchto say about the new business, “These partnerships are a fantastic opportunity to secure long-term access to over 900,000 pounds of high-quality, low-cost, California-grown cannabis for use across our expanding portfolio of branded products..”