Hacienda Heights, CA (PressExposure) June 24, 2009 -- One of the most popular hip-hop icon that produced the albums Reasonable Doubt, a critically acclaimed album called The Blueprint, and the album Kingdom Come which is considered as one of the highest-selling album in a one-week period is none other than the hip-hop artist Jay-Z. Shawn Corey Carter, better known for his stage name as Jay-Z, is an American hip hop artist and later known as the one of the most successful businessmen in the US. Other than his music, Jay-Z is also known for his business ventures such as founding one of the most popular recording label called Roc-A-Fella Records, a clothing line known as rocawear, and clubs around the US. Here are some of Jay-Z's most popular business ventures that lead him to be considered as one of the most financially successful hip hop artists and entrepreneurs in America.
Roc-A-Fella Records Jay-Z co-founded Roc-A-Fella Records with partners Damon Dash and Kareem "Biggs" Burke. Def Jam purchased a 50% stake in the company in 1997 for a reported $1.5 million. In late 2004, Jay-Z, Dash and Biggs sold their remaining interests in Roc-A-Fella Records and the Def Jam Recordings by Island Def Jam chairman L. A. Reid.
Rocawear In 1999, Jay-Z co-founded the urban clothing brand rocawear with Roc-A-Fella Records partners Damon Dash and Kareem "Biggs" Burke. The rocawear collections mainly include clothing lines and accessories for men, women and children. The line was taken over by Jay-Z in early 2006 following a falling out with co-founder Damon Dash. In March 2007, Jay-Z sold the rights to the rocawear brand to Iconix Brand Group, for $204 million. Jay-Z will retain his stake in the company and will continue to oversee the marketing, licensing and product development.3
Entertainment and Lifestyle Jay-Z co-owns The 40/40 Club, an upscale sports bar that started in New York City and has since expanded to Atlantic City, NJ. Future plans will see 40/40 Clubs in Los Angeles, Las Vegas, and Singapore. Roc-A-Fella also distributes Armadale, a Scottish vodka, in the U.S. Jay-Z is a part-owner of the New Jersey Nets NBA team paying a reported $4.5 million for his share. He is also interested in relocating the team to Brooklyn. In October 2005, he was reported in English media as considering buying a stake of Arsenal FC, an English football (soccer) team.