JAY-Z invests $10 million in minority-owned cannabis companies

JAY-Z is supporting the community with an amazing business opportunity.

The famous artist just launched a $10 million fund with the purpose of investing in minority-owned cannabis companies, helping them gain success within the fastest growing industry.

The 51-year-old rapper and entrepreneur recently joined Roc Nation to create his own cannabis company.

But Jay didn’t stop there, after the launch of The Parent Company he wanted to “do something real,” and revealed he wanted to do his part in helping the community.

He also went on to explain that it’s not about just a company, adding that “it’s not a spreadsheet, it’s real people.”

“We were the ones most negatively affected by the war on drugs, and America has turned around and created a business from it that’s worth billions.”

Describing it as the Social Equity Ventures fund, the icon will be providing up to $1 million for the selected cannabis startup, actively intending to foster growth to enter the money-making industry.

The fund will also be dedicated to create job fairs and offer training workshops for Black-owned companies.

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Jay-Z was described by Forbes as “hip-hop’s first billionaire,” and it seems he wants to help everyone thrive, as he also stated the importance for marginalized groups to be involved in the life-changing opportunity.

During the launch of his company, the rapper insisted he wanted to redefine what cannabis meant by creating a “new chapter in cannabis defined by dignity, care and consistency.”