JAY-Z | Behind The Blueprint Of Cultural Capital | TGQ INC.
JAY-Z signs deal to sell majority stake in Tidal
In his second lucrative deal in 2021, JAY-Z signs a deal to sell a controlling stake in his music streaming service Tidal to Square Inc. CEO Jack Dorsey for $ 297 million. According to Forbes, the transaction valued the company at around $ 450 million. Square Inc. is a mobile payment company based in San Francisco, California. According to Bloomberg, JAY-Z extends his sincerest regards as he continues his efforts to expand the company’s range of financial tools to emerging artists and musicians. In addition to this transaction, JAY-Z has joined Square’s board of directors as Square will become the significant majority owner of Tidal. JAY-Z is no stranger to the momentum, barely a week ago, he signed an agreement with LVMH. Two transactions increase his net worth by 40%, from $ 1 billion to $ 1.4 billion; It’s Black Excellence!