Over the past decade, Jay-Z has laid out the blueprint for entrepreneurial success for rappers by investing in ventures ranging from upscale clubs to executive producing the video game NBA 2K13.
Recently the Brooklyn-native rapper turned businessman broke new ground by signing New York Yankees’ all-star Robinson Cano, to Roc Nation Sports.
Roc Nation Sports is a full-service sports management company led by Jay-Z and Juan Perez. Other recent, notable signees of the agency include former Notre Dame women’s basketball star and No. 3 pick in the WNBA draft, Skylar Diggins, and Giants Pro Bowl wide receiver, Victor Cruz.
It will be exciting to see how quickly Roc Nation Sports can expand in the near future, as reports are saying it would not be a shock to see LeBron James partner up with his pal Jay-Z.
Jay-Z already has his targets set on the top-rated player in the Central Scouting’s final NHL Draft rankings, Seth Jones. Jones is a defenseman for the Portland Winterhawks and son of former NBA player and current Brooklyn Nets assistant coach, “Popeye” Jones.
Jay-Z played an instrumental role in bringing the Nets to the Barclays Center in his home borough of Brooklyn, but he had to sell his one-fifteenth of 1 percent stake he had in the team in order to represent athletes under Roc Nation Sports. According to Forbes, Jay-Z turned his initial $1 million investment in the Nets into $2.35 million over the course of nine years.
Jay-Z redefines the role of hip-hop entrepreneur with each new, clever business decision he makes. He is making not only rappers, but all business people think twice about how to branch out their brand as a whole.