Jay-Z Launches New Investment Firm

Contributed by BreAnna Bell

Jay-Z has reportedly filed paperwork in California to launch his own investment firm, Essence says.

The rapper/entrepreneur is currently on a world tour with wife, Beyonce, and the duo just released a surprise joint album, Everything Is Love. Most recently, the RocNation CEO just became creative director for Puma’s revamped basketball division where he signed the top two draft picks, Marvin Bagley III and Deandre Ayton.

According to Business Insider, Jay-Z is creating a fund called Marcy Venture Partners, which could be an ode to Marcy Houses, the Brooklyn housing projects he grew up in as a kid. Walden Venture Capital’s managing director, Lawrence Marcus, and Roc Nation’s president, Jay Brown, will also spearhead the founding venture capital firm along with Jay-Z.

With the new addition of his multiple investment ventures, the millionaire mogul’s new net worth totals up to 900 million, per Forbes. Along with this new investment venture, Jay-Z’s angel investments also include funding for luggage company Away, premium sock company Stance, the stock-trading app Robinhood and private-jet company JetSmarter.

 

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