JAY-Z has broadened his impressive investment portfolio by acquiring a stake in the high-end watch industry through his investment in Wristcheck, a luxury watch marketplace.
Beyoncé's husband, known for his passion for timepieces, participated in the company's most recent funding round, which amassed $5 million.
The site enables watch aficionados to purchase and trade high-end timepieces. It ensures that all watches have been verified by expert watchmakers, providing confidence to buyers investing significant sums in authentic luxury watches.
Austen Chu, the platform's co-founder, said in a statement, "As an entrepreneur, JAY-Z has always been an inspiration to me. I remember growing up to his music - his lyrics not only introduced me to watch brands like Audemars Piguet, but also fueled my love for watches even further, as he bridged the gap between watches and pop culture."
He went on to say, "As the most influential celebrity watch collector of the 21st century and a certified GOAT, his support carries immense weight both personally and professionally. It's a testament to the trust and community we've built, and marks a major milestone in cementing Wristcheck as the go-to platform for watch enthusiasts worldwide."
JAY-Z has curated a distinguished watch collection featuring popular brands such as Richard Mille, Audemars Piguet, Hublot, and the iconic Rolex.
In 2021, the "Empire State of Mind" rapper also gained attention for his extravagant purchase of a unique collaboration piece from Tiffany and Patek Philippe, costing $6 million.
The dad-of-three later proudly displayed the timepiece during the premiere of Idris Elba's movie The Harder They Fall, shortly after it fetched $6.5 million at an auction, according to CNBC.
JAY-Z was also spotted sporting a remarkable Patek Philippe valued at $2.2 million in one of Diddy's parties. Additionally, he showcased a Richard Mille watch at another event, which required 3,000 man-hours to craft.
Known for his diverse investment ventures, the ROC Nation founder has made a name with a massive array of investments. These include a significant real estate portfolio, an early stake in Uber, investments in the marijuana software company Flowhub, and the plant-based milk company Oatly.
In addition, he has a history as a previous owner of the NBA team Brooklyn Nets.
Forbes reports that JAY-Z has a net worth of $2.5 billion.
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