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Major changes may be on the way for Jay-Z’s Marcy Venture Partners. The rapper’s venture capital firm, established in 2018, was created to build “innovative businesses and mass-market brands,” its company website mentions. Its areas of investment focus on sustainability, inclusivity, empowerment, accessibility, and health and wellness. As AFROTECH™ previously mentioned, its investment portfolio includes at least 24 companies such as Wheels, an electric transportation company; Hungry Marketplace, a food tech company; and Rihanna’s Savage X Fenty lingerie brand. MVC also participated in a $33 million funding round for premier beauty brand Madison Reed in 2022 and backed 24-year-old technologist Iddris Sandu to embolden his tech incubator, Spatial Labs. “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,” Sandu said at the time. “The lasting impact of this relationship is not simply...
Jay-Z is known for breaking barriers in music. However, his secret to reaching billionaire status has been his ability to succeed in areas beyond the billboard charts. Among his various ventures, he reminds the world that the shoe brand Reebok is one of the successes documented in his portfolio. According to Finurah, Jay-Z signed a sneaker deal with Reebok in 2002. In 2003, the rapper became the first non-athlete to sign an endorsement deal with the shoe and apparel company, per ABC News. At the time, record executive Steve Stoute was working with Reebok and convinced Jay-Z to accept the deal; the rapper signed on as a 50/50 partner with the brand. “Jay-Z’s not the ambassador of anything except himself. He was a partner. He was a 50/50 partner,” Stoute said in an interview on “Club Shay Shay.” The first collaboration to result from the partnership was the “S. Carter Collection,” which had a better debut than any of its previous shoes, surpassing the sales of Allen Iverson’s shoe...
Nas is spearheading a plan to change the landscape of New York City. The music icon has partnered with Resorts World Casino New York City and its parent company, Genting America East, to revitalize his beloved Queens neighborhood. As reported by Commercial Observer, Genting America East executives, including the artist, shared plans for a $5 billion redevelopment endeavor to transform the Resorts World establishment into a “Las Vegas-style casino.” The blueprint for the project includes amenities such as 30 new opportunities for food and beverage vendors, a 7,000-seat performance space, and 1,600 new hotel rooms inside the existing Hyatt Regency at John F. Kennedy International Airport. Genting America East also proposed a 350,000-square-foot extension of the Resorts World casino floor. If approved, the move would position the casino as the largest gambling establishment globally, per the outlet. Beyond revenue-generating additions, the proposal includes housing units that could...
