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New beginnings are on the horizon for Jay-Z’s Marcy Venture Partners. Founded in 2018 by Jay-Z, Jay Brown (former CEO of Roc Nation), and Larry Marcus (managing director at Walden VC), the venture capital firm invests in media, technology, products, and services that are culturally relevant and push boundaries, according to its LinkedIn profile. Its portfolio includes at least 24 companies, such as: Wheels (electric transportation company) Hungry Marketplace (food tech company) Savage X Fenty (lingerie brand) Spatial LABS (sLABS) (tech incubator) Madison Reed (beauty brand) Partake Foods (allergy-friendly food company) “Aligning with Marcy Venture Partners assists with our vision for elevating the youth as it relates to access and a means to true technological empowerment. The lasting impact of this relationship is not simply defined by the work we’re doing now, but by the immeasurable impact for generations of creators to come,” said Spatial LABS Founder Iddris Sandu at the time....
Jay-Z is reportedly no longer affiliated with The Parent Company, which suffered significant revenue losses starting in 2022. In 2020, the rap mogul, born Shawn Carter, launched his luxury cannabis brand Monogram under The Parent Company, where he served as chief visionary officer, mentions Lawyer Monthly. Its flagship product, the OG Handrolls, was priced at $50, with the full lineup of strains primarily available at eight California-based dispensaries, including Caliva, Coastal, and Zen Garden, as well as an Arizona dispensary called Ponderosa. However, since then there appears to be trouble in paradise for both Monogram and The Parent Company. S FGATE mentions Monogram’s pricing did not fair well for cannabis consumers, especially since its products were marketed as high-end and premium. “Like many other things we’ve seen in cannabis surrounding rappers, the hype hasn’t met the reality. Monogram was supposed to be an ultra-premium product, and I don’t know anyone who tried it and...
A new financial education program is making its way to Historically Black Colleges and Universities (HBCUs) with the help of Jay-Z. According to a news release shared with AFROTECH™, the Shawn Carter Foundation, with support from Toyota Motor North America, is launching the Champions for Financial Legacy (CFFL) program in time for Spring 2025. To start, the program will benefit students at Lincoln University, Norfolk State University, and Virginia State University, offering a financial curriculum structured around real-world applications. “We are excited to see our partnership with the Shawn Carter Foundation evolve to include this innovative initiative,” said Monica Womack, general manager of diversity & inclusion and community engagement at Toyota, per the release. “One that not only provides resources to HBCU students but also reaches the heart of the community, through advocacy for financial literacy.” The curriculum, developed in collaboration with the Coalition for Equity and...
Beyoncé is seeking to gain the trademark of her firstborn. Back in 2012, Beyoncé’ had made an effort to secure the trademark through BGK Trademark Holdings LLC. Jay-Z shared his thoughts on the matter in a conversation with Vanity Fair in 2013. “People wanted to make products based on our child’s name, and you don’t want anybody trying to benefit off your baby’s name. It wasn’t for us to do anything; as you see, we haven’t done anything,” Jay-Z told the outlet. “First of all, it’s a child, and it bothers me when there’s no [boundaries]. I come from the streets, and even in the most atrocious sh-t we were doing, we had lines: no kids, no mothers — there was respect there. But [now] there’s no boundaries. For somebody to say, ‘This person had a kid — I’m gonna make a f-ckin’ stroller with that kid’s name.’ It’s, like, where’s the humanity?” In the years that followed, Beyoncé and her team had ongoing issues with a lifestyle event planner, Veronica Morales, as she used Blue Ivy in her...
REFORM Alliance and Jay-Z’s Roc Nation joined forces Friday, Oct. 18, 2024, by hosting a job fair in Richmond, VA, that connected over 2,000 job seekers with more than 1,500 open positions. The free event focused on removing employment barriers for individuals impacted by the criminal justice system , particularly those on probation or parole, according to a press release. Participants had access to a diverse range of 36 employers, including major national brands like Amazon, Starbucks, and Foot Locker , alongside local businesses from the public, private, and nonprofit sectors. The job fair also featured numerous state and local government agencies, such as the Virginia Department of Corrections, the Virginia Department of Transportation, Virginia State University, and the City of Richmond. Jessica S., who was recently released from incarceration, interviewed with both Amazon and Foot Locker and received invitations for second-round interviews. “It’s been a struggle to find work...
At this moment in time, a judge is washing his hands of a decision involving Jay-Z and Dame Dash’s shares. As AFROTECH™ previously mentioned, Dame Dash is soon having his shares in Roc-A-Fella Records sold at auction following an $800,000 judgement from a copyright infringement and defamation of character lawsuit. The auction has been gaining significant attention as the buyer and new stakeholder would have the rights to Jay-Z’s debut album, “Reasonable Doubt.” Even Drake reportedly showed interest in purchasing the shares through a direct message, Dame Dash had said. “Based on feedback I have received from interested parties (and I can’t mention names), this auction will likely bring out many household names in the sports and entertainment industries as well as those interested in a piece of a historically significant company, which holds an interest in a timeless debut album,” Dame Dash’s attorney Natraj Bhushan explained to Billboard at the time. Jay-Z’s attorney’s has since...
If you’re at all familiar with the world of pop culture and modern music, you’re surely aware of Blue Ivy Carter, the 12-year-old daughter of global superstars Beyoncé and Jay-Z. A few years back, she topped AfroTech’s list of wealthiest children in America, and she’s only continued to pick up steam in the years since. The prolific young woman may have been born into wealth by virtue of her power-couple parents , though she has also managed to venture out and make millions on her own, making her one of the most prolific pre-teens in the country. Today, Blue Ivy Carter maintains an estimated net worth of over $500 million, according to a report in Greenlight , though some estimates suggest that her nest egg is even larger. Blue Ivy Carter’s net worth has been bolstered by a wide array of projects and business ventures, including brand and endorsement deals , music credits, modeling contracts, and soon, even a front-and-center placement in a feature film. The rising star has even...
Very few events grasp the nation’s attention like the Super Bowl. Each February, the NFL’s top teams come together for a head-to-head competition to determine who will be crowned the national football champion for the year. Although the game is the primary reason for the gathering, the Super Bowl is also home to one of the biggest cultural gatherings — the Halftime Show. The History Of The Super Bowl Halftime Show The Halftime Show didn’t have a lot of excitement in its early iterations. According to the New York Times, the first Super Bowl, in 1967, included collegiate marching bands, with Grambling State University and the University of Arizona being the first to perform. This mid-show performance would set the standard for the next two decades. Though New Kids On The Block signaled a shift in 1991 to modernize the format, things drastically changed in 1993 when Michael Jackson took the field in an iconic performance. This set the stage for some of the entertainment industry’s...
Roc Nation has spearheaded a “first-of-its-kind” financial commitment to the Hell’s Kitchen community in New York City, NY, as part of the proposal for Caesars Palace Times Square. According to a press release, the initiative includes an initial $15 million investment aimed at supporting local residents, including those at Manhattan Plaza, the popular affordable housing development for performing artists. “We are New Yorkers,” Roc Nation founder Jay-Z said. “Supporting and providing opportunities for our neighborhoods and community isn’t just a part of Roc Nation’s ethos; it’s our collective responsibility.” As part of its dedication to enhancing Manhattan’s West Side and investing in New York, approval of the bid will see Caesars Palace provide the $15 million, along with ongoing grants derived from 0.5% of casino performance. The press release notes that the Caesars Palace team is committed to collaborating with various local organizations to ensure the proposed gaming and...
There’s been an update in Dame Dash’s sentiments regarding ownership of “Reasonable Doubt.” In a recent Instagram video, Dame Dash acknowledged that there is “a lot going on” but he was surprised the media hadn’t covered what he considers “very relevant” news regarding his dispute with Jay-Z over the 1996 debut album. Dame Dash asserted that the City of New York, not him, filed a significant court document on Friday, Sept. 20, 2024, stating its concern over alleged misleading comments by Jay-Z and Roc-A-Fella Records (RAF). Per a report by All Hip Hop, the City, represented by the NYC Department of Social Services, requested a pre-motion conference as well as a stay of Dame Dash’s auction sale as a result. The petition was reportedly submitted to U.S. Magistrate Judge Robert W. Lehrburger. “’Jay-Z’s statements to the press have poisoned the environment for the auction,'” Dame Dash read from the City’s alleged statement. “‘He has claimed that he has a termination right under the...
Dame Dash claims Drake may have interests in buying his stake in Roc-A-Fella Records. As AFROTECH™ previously reported, Dame Dash is in the midst of having his shares sold after an $800,000 judgement was placed on him in regard to a copyright infringement and defamation of character lawsuit. With a chance to invest in Roc-A-Fella Records, the interest is high as it brings partial ownership of the copyright to Jay-Z’s debut album, “Reasonable Doubt.” “Based on feedback I have received from interested parties (and I can’t mention names), this auction will likely bring out many household names in the sports and entertainment industries as well as those interested in a piece of a historically significant company, which holds an interest in a timeless debut album,” Dame Dash’s attorney Natraj Bhushan explained to Billboard. Bhushan’s prediction may be ringing true as Dame Dash recently shared on the “America Nu Network” show, he received a direct message from Drake, who was looking to...
The year was 2003, and Jay-Z’s iconic “Black Album” would be released on Nov. 14. According to the Grammy Awards website, the album would also be his sixth-straight No. 1 album on the Billboard 200 and was initially signaled to be his retirement project. All of this was riding on the moment of an earlier debut that summer, with the launch of Sean Carter’s 40/40 Club. A New Type Of Night Club Situated in New York, NY’s Flat Iron district, the 40/40 Club was created as a luxury sports bar that doubles as a nightclub. Based on a report from Rolling Stone, the name pays homage to a rare achievement in baseball: hitting 40 home runs and stealing 40 bases in a single season. The nightlife concept saw success. Two years after opening, additional locations opened in Atlantic City, NJ; Las Vegas, NV; Atlanta, GA’s Hartsfield-Jackson International Airport, and Brooklyn, NY’s Barclays Center. “I love sports,” Jay-Z said via Flatiron Nomad. “[I] wanted to create an environment that is conducive...
New changes are underway at Roc Nation to empower independent artists. According to a news release, Jay-Z’s label has merged its Roc Nation Label and Equity Distribution (EQ) divisions to form ROC Nation distribution, with plans for it to bolster artists by giving them greater freedoms across technology and the music business. “The formation of ROC Nation distribution is a natural transition in the music space,” the press release states. “The mission is to support and empower independent artists while providing them the tools and services to distribute their music. All artists signed to Roc Nation Label will join and benefit from the new ROC Nation distribution structure.” Variety reports the distribution segment was established in 2019 and is being led by President Krystian Santini. The segment allowed artists to maintain ownership of their masters, and it will continue with an artist services division that includes marketing, publishing administration, and data analytics available...
Jay-Z wants to reclaim the body of work that started it all. TMZ reports Jay-Z’s legal team has sounded the alarm that in 2031 the rapper-turned-billionaire will obtain full rights to “Reasonable Doubt,” his debut album released in 1996. Per the outlet, these rights would have reverted back to Jay-Z 35 years after the release as part of the business deal either way. This announcement follows the news of an impending sale of Damon Dash’s 33% share in Roc-A-Fella Records, which is set to hit the auction block sometime on Aug. 29, 2024. Its listing at auction was set in motion earlier this year to cover the more than $800,000 judgement amount Dame Dash owed in a past copyright infringement and defamation of character lawsuit related to the making of the movie “Dear Frank.” As AFROTECH™ previously mentioned, Josh Webber, director of “Dear Frank” filed the lawsuit in 2019, claiming Dame Dash was trying to make the movie on his own after being fired as director himself. More recently,...
Jay-Z’s Roc Nation has announced its support of an initiative focused on students in Philadelphia, PA. The full-service entertainment company is backing the Pennsylvania Award for Student Success (PASS) in its goal to provide scholarships, according to Fox-29. The educational campaign is said to offer students from low-income households and underperforming schools access to private schools. “PASS — which is also known as Senate Bill 757 — is legislation aimed at increasing education opportunities for underprivileged youth attending the state’s lowest performing public schools,” a press release detailed, per Fox-29. The outlet notes that Roc Nation has spearheaded “Dine and Learn,” an event series to educate students and parents in Philadelphia about PASS. “We have enjoyed such a special connection with Philadelphians, so we’ve made it our mission to invest in the long-term success of the city’s changemakers,” Dania Diaz, managing director of philanthropy at Roc Nation, said. Amid...