Jay-Z Added Another $200M Knotch Under His Belt, Check Out His New Business Deal
Jay-Z has said it time and time again: He’s a business, man. Now, the Brooklyn, New York rapper is reiterating his stance. According to BET, Jay just inked a massive deal worth more than $200 million. That’s right, $200 million. It has been reported that Jay-Z signed an exclusive contract for a touring partnership with Live Nation.
Although very few details were released about the new deal, Billboard has confirmed the approximate worth of the partnership. Live Nation will serve as a producer and promoter for Roc Nation’s worldwide tours. The new deal was put in place as Jay-Z neared the end of his 10-year deal with Live Nation.
Shortly after the massive deal made headlines, Jay-Z released a statement about his venture with Live Nation. Jay confirmed Roc Nation and Live Nation will continue to be equity partners. “Live Nation and I entered unchartered territory in 2008,” Jay Z reportedly said in a statement. “Over nine years, we have traveled the world producing historic music experiences. Michael Rapino [president and CEO of Live Nation] is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next 10 years, we will continue redefining the live event landscape.”
Live Nation president/CEO Michael Rapino also released a statement about the deal complimenting Jay-Z on his musicianship and entrepreneurial success. “Jay Z is one of the world’s preeminent touring artists,” Rapino said in a statement. “This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
The Hustle Never Stops:
Jay-Z’s latest deal follows the release of the latest Forbes report with details about the top five highest paid rappers of in 2017, thus far. The publication reported that Jay-Z is now worth a whopping $810 million, steadily approaching the one billion dollar mark. The latest deal also follows another $200 million streaming deal Jay-Z closed with Sprint back in January of this year. Big props to Hov!