Billionaire rapper Jay-Z announced a partnership with a cannabis company in California.
Jay-Z, 49, has joined the wildly growing cannabis industry as a brand strategist with a California weed dispensary, according to a report published Tuesday by Bloomberg.
Caliva, a San Jose-based company, made the announcement on its website.
“[Jay-Z] will play a crucial role driving creative direction, outreach efforts and strategy for the brand,” Caliva said in the announcement. (RELATED: Jay-Z: America’s First Hip-Hop Artist Turned Billionaire)
“Mr. Carter will focus on and work to increase the economic participation of citizens returning from incarceration – many of who are not seeing the monetary benefits of legalization – through advocacy, job training, and overall employee and workforce development,” Caliva added.
“We want to create something amazing, have fun in the process, do good and bring people along the way,” Jay-Z said in a statement about the partnership.
JAY-Z’s empire just keeps on growing—now he’s entering the weed industry: https://t.co/dNea4aghnh pic.twitter.com/5A1hawLHvk
— Complex Music (@ComplexMusic) July 9, 2019
The rapper’s newest business venture comes a month after Forbes named him the first hip-hop artist to reach billionaire status. Jay-Z’s businesses span many industries including alcohol, real estate, arts, sports, music and now marijuana.
He joins Snoop Dogg as the latest to join the growing industry. Snoop owns his own brand called Leafs by Snoop.