The topic of Hip-Hop and money have always gone hand in hand. Initially, rappers were seen as financially irresponsible and victims of shady record deals that often left them in a sea of debt. However, in the past decade or so more and more artists have assailed to financial freedom by venturing into fintech.
Snoop Dogg is one of the latest rappers benefiting from making successful investments. According to Crunchbase, the 49-year-old LA native has investments in both of today’s most valuable startups, Klarna and Robinhood, and did so at a price way lower than its current valuation.
Klarna, a financial risk management company, is Europe’s most successful startup allowing users to make break up payments with no interest. And Robinhood is a free trading platform with a growing membership rate and a near $40 billion IPO.
Snoop Dogg’s investment portfolio dates back to as early as 2010, according to Crunchbase. In 2014, he was a part of a Series B for Reddit which is now valued at $6 billion. In 2016, he tackled the gaming industry with investments in the sports conversation app, GameOn. Last year, he invested in a LA-based plant-based food company, and has built a $100 million cannabis investment fund, TechCrunch reports.
Snoop Dogg is undoubtedly a valuable partner to any brand he invests in. With over 20 years as a public figure, he’s built a brand and image that is liked by millions and is able to successfully generate a profit.
One term of his Klana investment was being granted as a minor shareholder stake in exchange for starring in its “Get Smoooth” promotional campaign. As a result the company’s value grew by six times, according to CrunchBase.