Jay-Z Dumps Shares Of TIDAL And His Champagne Brand
Written by Site Hub on March 9, 2021
Music legend and billionaire Jay-Z has recently entered into several business deals that have made him a LOT of money.
According to a report by Forbes, Jay-Z’s recent sale of his majority stake in his music streaming platform TIDAL & a 50% stake in his champagne brand, Armand de Brignac, have boosted his net worth by around 40%.
The TIDAL deal came after he negotiated a decent price with Square Inc. – which is owned by Twitter co-founder Jack Dorsey.
Before the TIDAL deal, Jay sold half his shares of Armand de Brignac to Louis Vuitton Moët Hennessy (LVMH), bringing his net worth from $1 billionaire to $1.4 billion.
Regarding the partnership with Dorsey, Jay tweeted:
“Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about the future. This shared vision makes me even more excited to join the Square board.”
Source:
BET
