Billionaire rapper, Jay Z has entered the fast-growing weed industry, taking a role with California company Caliva as strategist. The rapper will help the company with creative decisions, outreach efforts and strategy, though a big component of his role will focus on the social justice issues surrounding legalization.
“Anything I do, I want to do correctly and at the highest level,” Jay-Z said in a statement. “With all the potential in the cannabis industry, Caliva’s expertise and ethos make them the best partners for this endeavor. We want to create something amazing, have fun in the process, do good and bring people along the way.”
Jay-Z reached out to Caliva after an extensive search to find a suitable partner in the cannabis industry. “For Jay-Z to seek out Caliva as a partner is humbling and confirms our mission of being the most trusted name in cannabis,” says Caliva CEO, Dennis O’Malley. “To find that we were in complete alignment around our values and ethos was just a home run. We believe this partnership is unparalleled in this or any business and we could not be more pleased to be working with him and have him as our Chief Brand Strategist.”
Jay-Z, who grew up in one of Brooklyn’s most notorious housing projects, was recently named by Forbes magazine as hip hop’s first billionaire thanks to investments in champagne, cognac, the ride-sharing service Uber and his Roc Nation entertainment company.