Roc-Nation boss Jay-Z starts 2021 with a new move. In a new interview with Wall Street Journal Brooklyn’s own Jay-Z revealed he’s aiming to invest $10 Million on minority owned Cannabis Business as almost 36 states in the country have legalized Weed industry for medical or recreational use. Jay-Z told WSJ “We were the ones most negatively affected by the war on drugs, and America has turned around and created a business from it that’s worth billions. I wanted to do something in a real, concrete way, where I do my part.” he also added he’s motivated by imbalance in the marijuana business.
According to reports the fund will invest up to $1 million in each cannabis startup it chooses to back, according to the Journal. It will reportedly be run by Jay-Z and Desiree Perez, the CEO of his Roc Nation entertainment empire. Jay-Z also owns Cannabis line Monogram which he says he “created to give cannabis the respect it deserves by showcasing the tremendous hard work, time, and care that go into crafting a superior smoke. “