JAY-Z has reportedly added even more wealth to his net worth.
On Friday (April 30), Hov’s drawn out deal to sell the digital streaming platform TIDAL to Square and Twitter CEO Jack Dorsey was completed, according to TMZ.
Dorsey had announced his plans to buy a majority stake in the popular streaming platform in March and after Friday’s deal, he officially fulfilled his wish. As for Hov, the sale adds another $302 million to his bank account, flipping an investment he made in 2015 when he purchased the then-fledging platform for $56 million.
“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 its future,” JAY-Z tweeted on March 4. “This shared vision makes me even more excited to join the Square board. This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!”
By purchasing the shares for $302 million, Square gets 80 percent ownership of TIDAL and licensing deals with major record labels. All the artists/owners who saw their valuations rise when the deal was announced will remain with the company.
Counting money up is a Hov staple and in 2021, he’s announced new deals and partnerships starting with the sale of half of his Aces of Spades champagne line to LVMH and the aforementioned TIDAL deal with Square.
JAY-Z Joins Square, Inc. Board Of Directors After Twitter CEO Jack Dorsey Buys Majority Stake In TIDAL
On the recently released “Sorry Not Sorry” from DJ Khaled’s Khaled Khaled album, the Hip Hop mogul is too busy counting all the various B’s he’s accumulated, whether they be billions of dollars or Beyoncé.
Watch the “Sorry Not Sorry” video below.
Capitalism, I love it
Looks like Jay-Z is capitalizing off of the system that he hates so much.
Yikes. Dorsey has done the culture such a disservice. Twitter is propaganda and censorship, the last thing I’d want to align myself with jay?
S…T…F…U.
Hope you’re joking. Social media is completely on-board with social justice and shilling for “the culture.” Anyone politically to the right of Bernie Sanders, on the other hand, has been deplatformed. The only black guy that’s been banned was Farrakhan, and let’s be real- dude believes all white people were created by an evil big-headed scientist. He’s a little goofy.
Shout out to Jay on the deal. Square market cap is about $110 billion. Twitter market cap is about $40 billion. Jacket Dorsey net worth is about $4 billion. So that’s a drop in the bucket for the company.
Assholes, quite hating
X put you on, Nas made you hot, now you running around like some big shot pssy
you have to pay just to register itunes here i come.
Black Republican
Shout out to Jay for selling off his media platform! Jeff Bezos is buying media to advocate and control the narratives for his people, we are cashing out?
He took an L on this one, sold his soul to the white man. Can’t say I’m surprised.
Stfu….hating azz phag.
Sold 80% of your company for peanuts if you ask me. White guys sell they biz for billions or very close. I don’t see this as a win, seems like you keep letting these white boys low-ball you Jay
Idk where y’all come from.. but anytime u pay 56 for something.. & u flip that to 350.. that’s called hustling. It’s called a Profit. Y’all saying he took an L. I say y’all can’t add.
Jayz could sell y’all into slavery and ya’ll will still say “it was a sound business move”
Right? And as they are putting us in chains, fool will still say “let’s just do it, this is chess not checkers!!”
You’re broke and jealous so you’re looking for an argument lol
He bought Tidal from someone else then flipped it.how he lose ?then he still has stake in it.its like eating your cake and having it too.56 million-350 million.cum on people.
Tidial must not be doing well, $350 million is a lot of money but not for a business like this. Guess it doesn’t matter in the end of the day as Jay got his. Still seems cheap.
Jack played that foo, jay only get 20 cents on every dollar, you tell me who won?
Law 7: Get others to do the work for you, but always take the credit
You’ve never even touched 100k in your life stfu.