Jay Z Launches Marijuana Business

Mr. Sean Carter aka Jay Z, has seen a new investment move in Marijuana and has taken the plunge.

The billionaire rapper, music mogul and entrepreneur launched a cannabis line called Monogram Friday. It’s a partnership with California cannabis company Caliva.

It is not clear how much Jay Z is sinking into the business which he joined in 2019 as chief brand strategist, but already, a musical edge has been given the new business foray. A playlist entitled ‘Monogram: Sounds From the Grow Room‘ was released this week on Jay-Z’s streaming service platform, Tidal.

The track features global marijuana icons including Bob Marley, The Beatles and Rihana.

“Monogram marks a new chapter in cannabis defined by dignity, care and consistency. It is a collective effort to bring you the best, and a humble pursuit to discover what the best truly means,” a promo read on the website of the company.

It remains federally illegal to grow and sell marijuana in the US. However, more than half of US states have legalized medical marijuana, with some of those allowing recreational use.

“We think this is a sea (of) change in terms of the visibility to the industry,” Dennis O’Malley, Chief Executive Officer of Caliva, told CNN Business in reference to Jay Z’s big money move.

“We take this partnership with a lot of responsibility, a lot of humility, a lot of accountability moving forward,” said the CEO.

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