Billionaire rapper Jay-Z has officially jumped on the weed wagon.
Jay-Z announced this week that he will be chief brand strategist for Caliva, a California-based cannabis company.
“We want to create something amazing, have fun in the process, do good and bring people along the way,” the rapper said in a statement.
Caliva is a privately owned company that was formed in Jan Jose, California, in 2015. Jay-Z, once a drug dealer on the streets of Brooklyn and now a world-famous billionaire, will focusing on creative direction and outreach for Caliva.
“Anything I do, I want to do correctly and at the highest level,” his statement read. “With all the potential in the cannabis industry, Caliva’s expertise and ethos make them the best partners for this endeavour.”
Earlier this year, Jay (real name Shawn Carter) put his weight behind a criminal justice group called Reform Alliance. It aims to get 1 million Americans out of jail and on probation or parole over the next five years. It sounds like he will be continuing this work from within Caliva, by increasing job training for former prisoners who could then enter the cannabis industry.
According to Caliva:
“In this position, Mr. Carter will focus on and work to increase the economic participation of citizens returning from incarceration – many of who are not seeing the monetary benefits of legalization – through advocacy, job training, and overall employee and workforce development.”
Caliva currently has 600 employees, and operates across 150 000 square feet of growing, manufacturing and retail space.
99 problems but lack of business experience ain’t one
Jay may be best known for his music, but he’s made millions of dollars thanks to his nose for good investments. In June this year, Forbes Magazine named him the first hiphop artist to become a billionaire thanks to investments in clothing brands, champagne, Uber and his entertainment company, Roc Nation.
Canna-business is booming in Hollywood
Jay is by no means the first celeb to jump on the weed wagon. Snoop Dogg has been vocal about lighting up for years before it was legal, and has his own brand, Leafs by Snoop.
Whoopi Goldberg has a medicinal cannabis range, and Gwyneth Paltrow is using her Goop platform to link up with the high-end MedMen Cannabis Dispensary.
Mike Tyson took it to another level, embarking on a project to host an entire ranch dedicated to cannabis. The former heavyweight champion owns the 40-acre Tyson Ranch, on which he planned to grow cannabis as well as host research and training programmes for growers.
Zootly says: If you’re a budding canna-preneur, now is the time to get in on the burgeoning weed economy!