Home > Uncategorized > Jay-Z Tackles Financial Market Despite Falling Economy

Jay-Z Tackles Financial Market Despite Falling Economy

This article analyzes the wins and losses that Jay-Z and his brand have encountered in light of the falling economy. Peep an excerpt below and the full article here:

“The first thing about Jay-Z is, he’s got a lot of breadth to his holdings,” says Dan Charnas, author of “The Big Payback: the History of the Business of Hip Hop,” due out in September from New American Library/Penguin. “He has that combination of vision, ability, fame and the power to execute working with the right people.”

That execution has worked a lot better in his core music and apparel businesses than when he strays outside his safety zone. But despite the recent investment failures, Jay-Z is still a $1 billion empire — that is, retail sales of products under his extensive corporate umbrella reach an estimated 10 figures a year.

JAY-Z, born Shawn Carter, co-founded the uber-successful Rocawear business in 1999 and, through his hands-on management style, grew it into a $700 million juggernaut. After he bought out partner Damon Dash’s 25 percent stake in the company for $30 million in 2005, he sold it for $204 million in 2007 to publicly traded Iconix Brands. Jay-Z remains the CEO of the brand and is in line to pocket an additional $35 million in stock if sales hit certain plateaus.

Read the full article here.

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