Diddy, Soulja Boy and More Celeb-Backed Investments That Could Benefit During A Pandemic
Photo Credit: Ben Gabbe/Getty Images for AQUAhydrate
While some businesses may be suffering from the coronavirus pandemic, others may be cashing out on business investments. As customers flood local grocery stores to buy essentials in preparation for the indefinite quarantine, those companies who provide must-have items might see an increase in sales. Check out this list of Black celeb backed businesses who could possibly see their investments prove to be lucrative.
Sean “Diddy” Combs and Mark Wahlberg invested more than $20 million in the water company, AQUAhydrate, that specializes in alkaline water. The Los Angeles-based company has its water on shelves across the country and even offers an online shipment option for customers. With water being on the top of most Americans’ list of quarantine must-haves, AQUAhydrate could cash out big time.
Juicy J of Three 6 Mafia invested in CORE Hydration, a water brand centered around producing purified and electrolyte infused water. The company was acquired by Keurig Dr Pepper in a deal valued at $525 million. Like Diddy, Juicy J’s investment might be bringing in a high ROI.
Back in 2016, rapper, Cam’ron had a genius idea to start a toilet paper company that would be a part of his Dipset U.S.A. line. TMZ reports that he purchased a toilet paper machine for $21,000 and had plans to invest in two more machines. Unfortunately, the business never became operational due to time constraints. However, if Cam were successful, his insight could have proven to be lucrative. Cam’ron took to his Instagram to tell the world more about his toilet paper idea.
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The Soap Shop
Soulja Boy has proven to be a business guru. The southern rapper has made impressive business investments over the years, one being The Soap Shop, which sells detergents and soaps at affordable prices. With the coronavirus outbreak, The Soap Shop seems to be cleaning up with sales increases.