Quantcast
Investment Win: Rihanna, Nicki Minaj & Beyoncé All Land An $8.9M Bag From Jay-Z’s Latest Money Move

Investment Win: Rihanna, Nicki Minaj & Beyoncé All Land An $8.9M Bag From Jay-Z’s Latest Money Move

He has sold his majority stake of the company, meaning all our girls cash in on their piece of the pie.

Business

Twitter co-founder Jack Dorsey, is scheduled to buy Jay Z's streaming platform, Tidal. In a $297M deal, Dorsey, who is also the CEO of Square, has acquired a majority stake in the service in a bid to expand his mobile payment company's tools to emerging and established artists, and Tidal will now operate independently within Square.

This means, that with the 3 percent equity awarded to all 16 artist owners for bringing exclusive material to the platform, each cash in on an $8.91M bag. 

An $8.91M bag. *Randy Watson stomps*

This bunch includes Beyonce, Rihanna, Alicia Keys, and Nicki Minaj--the only black women who are artist owners in the deal.

Additional components of the deal are, in very Jay Z-esque fashion, Jigga joining Square's board of directors, which will coincide with the recent fund he and Dorsey launched in February to "make bitcoin the internet's currency."

And in a rare move, Carter took to, of course, Twitter, to publicly address the deal:

And true to society, people hopped on the world wide web to react:

Some broke it down for the public:

Twitter

Others were excited Jay was tweeting:

Twitter

But mostly, we all thought, “he’s a business...man!”

Twitter

--

Neither of our girls have publicly addressed the sale, but we're sure they have something up their sleeve to celebrate this investment. Rihanna is coming off of a March 1 Savage launch, Nicki is dealing with personal issues while balancing being a new mom, and Beyonce has us all waiting by the mailbox for our Ivy Park boxes.

But personally, of the streaming wars, I've always rocked with Tidal (because it belong(ed) to the black guy), so I'm excited to see the direction it goes from here!

Are you a member of our insiders squad? Join us in the xoTribe Members Community today!

Feature image by Giphy

Hulu Series ‘Reasonable Doubt’ Will Be Your New Obsession
Raamla Mohamed created Hulu's latest series centering Black women, Reasonable Doubt. And we love anything created by a Black woman for Black women.
Keep reading...Show less
The daily empowerment fix you need.
Make things inbox official.
'Abbott Elementary' Proves That TV Can Build Community

The first time I thought about how art could be a form of community building was with HBO’s Insecure. The dearly departed comedy series created and starring Issa Rae provided audiences with more than just weekly laughs over the course of five years, but it also created space for other Black artists and entrepreneurs to thrive-- from all the Black businesses that the show has collaborated with to the Black music artists that the show has put audiences onto. It even created opportunities within entertainment journalism for many up and coming Black journalists who got their start by reviewing the show or hosting after shows unpacking the mess that went on in the episode.

Keep reading...Show less
Laura Harrier On What Self-Care & Wellness Means To Her

Entergalactic actress Laura Harrier’s career continues to expand as she lands big-name projects that show her range. You may know her from Spider-Man: Homecoming and Spider-Man: Far From Home, but her latest roles can put her on track to becoming a household name. Currently, she is starring in Hulu’s Mike Tyson biopic series Mike as Robin Givens and she will also be featured in the White Men Can’t Jump reboot.

Keep reading...Show less
6 Items NYC's Most Stylish Can’t Wait To Wear This Fall

This year I had the pleasure of attending my very first New York Fashion Week where I witnessed the best of fashion both on and off the runway. In between highly anticipated shows and jam-packed schedules industry insiders dominated the street style scene making their very own impression on the world. Buyers to bloggers, editors, and stylists were captured serving one-of-a-kind looks that will forever live in Fashion Week history.

Keep reading...Show less
KevOnStage And His Wife Melissa Don’t Want To Be “Relationship Goals”

Being married or in any type of long-term relationship takes intention and diligence. No one could tell you that better than comedian and social media personality KevOnStage (Kevin Fredericks) and his wife and partner Melissa.

Keep reading...Show less
Exclusive Interviews
Latest Posts