JAY-Z continues to make big business moves.
Earlier today (July 2), Business Insider reported that investment management firm Blackstone has agreed to acquire a majority stake in Certified Collectibles Group (CCG), a company that is valued at $500 million. They report that Hov’s Roc Nation, as well as Philadelphia 76ers co-owner and Fanatics executive chairman Michael Rubin, 76ers President of Basketball Operations Daryl Morey and current NBA player Andre Iguodala are also investing in the transaction for the acquisition of the company, which Market Insider says offers authentication for everything from comic books to posters and more.
According to the site, CCG has certified more than 62 million collectibles. The fair market value is said to be $50 million.
This news marks just the latest in a series of interesting business moves that JAY-Z has made over the last several months. Back in May, Hov trademarked 2/J for “entertainment services in the nature of creation, development, and production.” The move made people speculate that he could be forming a TV and film production company outside of Roc Nation. That same month, Roc Nation teamed up with American Greetings for a custom line of cards for the brand.
While JAY has been rocking his business hat more than ever, every once in a while, he still makes time to remind the world that he can get these bars off. Back in April, he did just that on “Sorry Not Sorry,” a DJ Khaled collaboration that sees him reunite with Nas for rich rapper bars. On the song, he spits about hypocrisy and wealth while issuing some casual threats for any of his would-be attackers. It’s typical JAY, and it falls right in line with all the savvy business dealings he’s partaken in as of late.
You can listen to “Sorry Not Sorry” here.