Just about everyone knows Jay Z is one of the most popular hip-hop artists of all time. Since 1996, he has sold over 55 million records. However, did you know that only about 3% of his net worth is from album sales? You may not be familiar with Jay Z’s music, but there is a good chance you have heard of companies he is involved with.
Jay Z and a couple of friends started this record label in the mid 1990’s. Their first release was Jay Z’s album, “Reasonable Doubt”. The record label had some success as they released Kanye West’s first 6 albums.
Jay Z followed up the record company with an urban clothing line called Rocawear. It may not be a household name now, but in the early 2000’s, the company saw annual sales of over $700 million. He later sold the company for over $200 million.
This entertainment label was created by Jay Z and Jay Brown. It has been a huge success and has signed people like Rhianna, T.I., and Big Sean. This label has since been absorbed by Live Nation and gave Jay Z the ability to launch Roc Nation Sports.
Roc Nation Sports
This venture was born out of Jay Z’s time as a co-owner of the Brooklyn Nets. He gave up his “shares” in the team so he could start the management company. Today, Roc Nation Sports manages athletes such as Dez Bryant, Robinson Cano, and Kevin Durant.
In an attempt to get into the music streaming game, Jay Z bought a Norwegian company and rebranded it to get exclusive rights to new hip hop albums. They ended up with between 1.2 and 3 million subscribers (this has been debated). He bought Tidal for $56 million and sold it for $200 million.
Buying and selling businesses is a complicated proposition. It is important that you seek the advice of experienced and skilled people to take you through the process. Elias Dsouza has been guiding business owners through complicated transactions for over 15 years. Contact Dsouza Legal Group for a free consultation today.