There’s no denying that rapper Jay-Z is a music legend. He has released 13 solo studio albums (not to mention his collaboration and soundtrack albums) that have earned him numerous awards. With 80 nominations and 23 wins, he holds the most Grammy-winning rapper award. It has the second most # 1 number on Billboard after the Beatles. And he just got inducted into the Rock & Roll Hall of Fame. All the self-hype about calling yourself the greatest, well, it wasn’t wrong.
In 2019, the music producer, whose real name is Shawn Carter, became the first hip-hop artist to become a billionaire, so Forbes. In addition to his musical endeavors, his lucrative empire includes forays into the world of fashion, spirits, art, real estate, and more.
His investment portfolio is quite extensive. That same year he co-founded the investment firm Marcy Venture Partners (MVP), whose name pays homage to the Marcy Projects in Brooklyn, New York, where he grew up. To date, he has stakes in a variety of companies including Uber, Rihanna’s Savage x Fenty, and the electric bike maker MATE.
Jay-Z and veganism
While not a vegan, Jay-Z’s support for a plant-based lifestyle has bolstered his support for vegan businesses.
In 2015 he founded the vegan meal planning service 22 Days Nutrition together with his wife BeyoncÃ© and the sports physiologist Marco Borges. The company’s goal is to eat less meat.
âThe information is hard to ignore. The benefits of a single plant-based meal a day can have such a profound impact on our health and the environment, “said Jay-Z and BeyoncÃ©. “We want to challenge you as we challenge ourselves to move towards a more plant-based lifestyle and acknowledge that you are committed to your health and the health of the planet.”
Jay-Z and BeyoncÃ© also wrote the foreword to Borges’ 2018 book, The Greenprint: Plant-Based Diet, Best Body, Better World. The couple – parents of their three children Blue Ivy, Rumi and Sir – explain the importance of a healthy life and write: “Having children has changed our lives more than anything.”
They continued, âWe used to think of health as a diet – some worked for us, some didn’t. When we saw health as the truth and not a diet, it became a mission for us to share this truth and this lifestyle with as many people as possible. “
Jay-Z’s vegan investments
The rap legend’s vegan investments don’t stop with meal planning. Here are five more times the music mogul has invested its fortune in plant-based businesses.
Founded in 2011, California-based Impossible Foods is known for making proteins that look, cook, and taste similar to their animal counterparts. The company spent years developing its first product, the Impossible Burger, before launching in 2016. A new and improved version followed in 2019.
That same year, Jay-Z helped the brand raise $ 300 million in a round of funding, bringing the total to more than $ 750 million. A number of other celebrities endorsed the vegan meat company, including Will.i.am, Katy Perry, Jaden Smith, and Serena Williams. Since then, the company has launched several new products, including plant-based sausage, chicken nuggets, pork and, more recently, meatballs.
Take away food
You can add a cookie connoisseur to Jay-Z’s resume. In 2019, MVP led a $ 1 million funding round at vegan biscuit brand Partake Foods. In 2016, former Coca-Cola CEO Denise Woodward founded Partake Foods after her daughter was diagnosed with multiple food allergies. The brand produces biscuits that are free from the eight major allergens.
“Partake has the ingredients to build a brand for the mass market: compelling values, a great tasting product, and a persistent and experienced operator,” said Larry Marcus, co-founder and CEO of MVP, at the time.
Misha’s friendly food
In August Jay-Z added vegan cheese to its investment portfolio. Together with NBA player Chris Paul, the entrepreneur invested in the Californian vegan cheese brand Misha’s Kind Foods. The duo helped the company raise $ 3 million in startup funding that will help drive product development, grow its retail presence, and grow its workforce.
Founded in 2018, the company produces artisanal vegan cashew and almond-based cheese in varieties such as black truffle, ricotta, salmon and smoked cheddar cheese. “These investors and their enthusiasm not only confirm the quality and excellence of our artisanal cheeses, but they are also in line with our long-term vision and mission.” called Aaron Bullock, CEO and Co-Founder of Misha’s Kind Foods. “Everything we make is good for your body, for the planet and for your wallet.”
In 2020, Jay-Z’s entertainment company, Roc Nation, endorsed a number of A-listers including Oprah and Natalie Portman, Swedish oat milk brand Oatly. The celebs invested $ 200 million in the company, which makes a range of oat-based products, including frozen desserts, coffee creamer, yogurt, and soft ice cream.
Jay-Z’s investment turned out to be lucrative. In May, Oatly caused a sensation on the stock exchange. After its debut, the company raised $ 1.43 billion when it went public. Traded under the symbol OTLY, the company’s valuation rose to $ 13 billion after its first day of trading.
Jay-Z’s investments don’t stop at meatless burgers and oat milk. In June, the music mogul’s investment firm supported the vegetable chicken brand Simulate. The Series B funding round was led by Seven Seven Six, the venture firm of Reddit co-founder Alexis Ohanian. It raised $ 50 million, bringing the company’s valuation to $ 250 million. Ohanian, husband of tennis star Serena Williams, is also an investor in Impossible Foods.