Jay-Z Named The Chief Visionary Officer In Subversive Capital Move

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Photo: wollertz

Few artists can boast the mind-blowing success of rapper Jay-Z. From a late-blooming inner-city rapper to a multimedia mogul, Jay-Z can claim true rags to riches in every area of his life.

You might know him from being married to Beyonce, but billionaire business tycoon Jay-Z is setting legendary records in business and music. He was recently named the Chief Visionary Officer of TPCO Holdings, Inc.

Take a look at this overview of the epic transaction.

Who is Jay-Z?

Not everyone follows rap culture or its constant stream of scandalous news. It’s one of the few genres of music or film that promotes a specific lifestyle both on and off camera.

For this reason, you’ll typically hear the worst possible news about your favorite rapper instead of his contributions to the community. But rapper Jay-Z is known for remaining virtually scandal-free beyond a few harmless rumors throughout his career.

Instead, Jay-Z has silently grown his net worth and business acumen while standing behind major causes in social justice. He’s an advocate, activist, father, entrepreneur, and mogul.

The business news you hear about Jay-Z is only the tip of the iceberg. He’s becoming harder to deny as a tycoon as his new deal with TPCO Holdings points out.

His presence in venture capital deals defies the odds given his past as a ‘kid from the street.’ Jay-Z is known for countless Grammy Award-winning songs including 99 Problems, Empire State of Mind, and the Platinum duet with Beyonce ‘Crazy in Love.’ In fact, he has more Grammy’s than any other rapper.

These Grammy Awards span nearly 20 years with nominations dating back long before. He is one of the world’s best-selling artists with more than 50 million albums sold worldwide.

So, he’s great at music. Why would a company want to partner with a music mogul in a new cannabis company?

Jay-Z’s business track record reveals he’s a wunderkind when it comes to strategy. His current holdings are history in the making.

Business Career

Jay-Z secured a business deal with Reebok back in 2003 for his S. Carter shoe line. He launched a successful clothing line with business partner Damon Dash called Rocawear that he sold to Iconix Brands for $204 million.

He’s a Brand Director for Budweiser Select helping to make strategic decisions and serving as the creative visionary behind many ad campaigns.

Jay-Z’s list of businesses also includes a successful hair care line for women available in most major retail stores. He owns an upscale nightclub in New York City which recently expanded to Atlantic City.

The diversity in his business experience is unmatched. Few moguls can present audiences with what they want quite like Jay-Z.

He’s the perfect partner for launching a venture that’ll draw consumers into a brand that’s also a lifestyle. He’s respected and trusted by his followers which means they’ll follow his lead in whatever venture he aims to launch.

The Chief Visionary Officer Role

Subversive Capital Acquisition Corp is launching multiple businesses in the cannabis field. After buying two cannabis brands in California, the special purpose acquisition company asked Jay-Z to become its CVO, or Chief Visionary Officer.

Subversive will own a direct to consumer platform called Caliva in addition to a hemp producer called Left Coast Ventures. The overall partnership deal promises $36.5 million in equity to its shareholders.

Among the shareholders are celebrities like Rihanna, Meek Mill, and Yo Gotti. All these are artists under Jay-Z’s Roc Nation label.

Subversive hopes to dominate the California cannabis market in years to come. It hopes that the TPCO Holding will surpass $334 million in 2021.

Why Jay-Z? With his proven track record as a business tycoon and interest in the cannabis industry, Jay-Z is the perfect leader for brand strategy.

But his role as Chief Visionary Officer goes beyond just building the company into a global household name. He’s going to also lead Social Equity Ventures which invests in black-owned cannabis businesses.

There’s a growing disparity in how these businesses are treated compared to majority-owned cannabis companies. Bonds are higher, regulations are stricter and rapper Jay-Z is the best person to help level the playing field for small business owners.

Social Equity Ventures also works to reform the criminal justice system, a cause Jay-Z is passionate about. Specific actions include bail reform, job placement, and expungement clinics where you might have these electronic lockers.

TPCO plans to set aside $10 million to support these programs so that people who have been negatively affected by cannabis related activity can regain their lives. The $10 million dollar contribution will be followed by an annual contribution of 2 percent each year.

Entertainment and Capitalism

Artists have long been requested to promote large corporate brands. But rarely have they launched their own brands that then sold for hundreds of millions of dollars. Enter Jay-Z.

He’s the Chief Visionary Officer capitalism has needed since the 1980s when hip hop first took over the planet.

Owning and running multiple businesses requires a business acumen held only by a talented few. The cannabis industry has a complicated history of criminalizing the underserved.

Now that there’s an opportunity for profit, tycoons like Jay-Z are rushing to the aid of those questionably sentenced for the possession of cannabis. The stance isn’t that laws weren’t broken at the time, but that sentencing often matches the offense.

Too harsh sentencing ruins lives, which ruins families and then harms entire communities. People who can’t get employment after incarceration, mostly men, often can’t qualify to purchase home and pay property taxes back to local public schools.

Schools become underfunded leaving children with limited college options. The lack of professionals in the neighborhood means no upward mobility and no ‘connections’ in a field after college.

Enlisting the support of someone who knows first hand how to support the underserved helps strengthen the social capital of TPCO. Hopefully, it’s a brand that can deliver on its promise of profit to continue serving its community.

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