JAY-Z is on to his next business venture.
Yesterday (July 9), the New York rapper announced his partnership with California-based cannabis company, Caliva. Jay will serve as their Chief Brand Strategist.
"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."
Caliva CEO, Dennis O'Malley, expressed excitement over having hip-hop's first billionaire cosign their business.
"For Jay-Z to seek out Caliva as a partner is humbling and confirms our mission of being the most trusted name in cannabis," O'Malley said. "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."
For his part, Jay will help with the development of the brand and help formerly incarcerated citizens get involved in the business as well. Throughout his career, the 49-year-old rapper has shown that he has an interest in helping with criminal justice reform.
Back in 2017, Jay released TIME: The Kalief Browder Story. The six-part docuseries shed light on a teenager who killed himself after spending two years in solitary confinement. Next month, Meek Mill's five-part docu-series, "Free Meek," will premiere Aug. 9. Jay, who serves as an executive producer for the docu-series, will help provide an inside look at Meek's efforts with criminal justice reform.
Congrats to JAY-Z on his latest business venture!