Jay-z is growing his empire by the year. This year, the rapper with a net worth of $1 Billion is investing millions of dollars as he pursues his dream to become a business mogul in the legal marijuana industry with his Monogram cannabis brand.

Aside from cannabis, Jay-z has several merchandise and business ventures that add to his growing net worth. Let's take a closer look at these business enterprises.

A multi-million dollar dream

In the last quarter of 2020, the rapper invested $10 million to fund his cannabis brand when the US gave the go-ahead to legalize medical cannabis. Months later, singer-business mogul expanded the Monogram Cannabis brand as its parent company, Hov, acquired Mercer Park Brand Acquisition for $50 million.

The merger will then engage in another partnership with Glass Hour for a long-term 10-year deal to produce nearly 500,000 pounds of cannabis. The union also set plans for a multi-million retail business deal in the following years.

His Top Five Businesses

Aside from his cannabis business, Jay-z has several merchandise and business ventures that add to his growing net worth. Here are some of them.

Tidal

Launched in 2014, Tidal is originally subscription-based music, podcast, and video streaming service. However, the platform changed its identity when the hip-hop star acquired it and transformed it into an artist-owned music-streaming platform.

Tidal continued to grow and spread its operations among 56 countries streaming over 70 million songs of different kinds and genres.

This year, Jay-Z (whose real name is Shawn 'Jay-Z' Carter) sold 80% of the platform to Jack Dorsey's Square, a move that has given him 'more money than expected.'

Rocawear

The artist's investment in the clothing line Rocawear came earlier in 1999 with Damon Dash. It didn't take long for this jay-z merch to become a success and generated $50 million revenue by 2000. Its highest sales happened in March 2007 with $700 million annual income.

In 2007, the hip-hop star sold the Rocawear brand rights to Iconix Brand Group for $204 million. However, he still has shares and stakes in the company and continued efforts to oversee its marketing and other operations.

Multi-million dollar homes

Jay-z and his spouse, Beyonce (with a net worth of $500 million), bought several houses on the year they conceived their twins in 2017. These properties include the couple's East Hampton mansion and their Bel Air estate. He also has his real estate property, the Tribeca penthouse that he acquired in 2004.

Armand de Brignac aka 'Ace of Spades'

The rapper also engaged in the champagne business with Armand de Brignac, a high-end brand known as 'Ace of Spades.' In 2014 when Jay-z owned the champagne company but later sold 50 percent ownership to LVMH Moët Hennessy this year.

D'Usse

The hitmaker slated a joint venture with Bacardi in 2012 and founded D'Usse, a cognac designed for wealthy people leading a lavish and outgoing lifestyle. However, D'Usse adjusted its standards and packaging to accommodate a wide range of markets and customers.

Recently, the business mogul sold $50,000 sales of the D'Usse cognac to raise funds for his organization, the Shawn Carter Foundation. D'usse has a current value of around 100 million dollars.

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Jay-Z, Business, Rapper, Hip hop