It’s no secret that Jay-Z is filthy rich. In addition to his successful rap career, he has his hands in several aspects of the industry. Earlier this year he was named by Forbes as the world’s second richest rapper, only missing out on the number one spot by $105 million. And now, according to Page Six, he’s about to get a whole lot richer because he’s preparing to ink a pretty huge deal with Samsung.
We hear that the deal is worth $20 million and will involve some sort of music streaming app that allows the hip-hop mogul to promote and distribute the music of his artists.
“The eight-figure deal will be inked in the next few weeks, and is the biggest of its kind. You can speculate that he’ll want to develop some kind of new music-streaming service to promote his acts and music on mobile devices,” a source revealed.
So far, the partnership had yet to be confirmed by Samsung or Jay’s camp, but there’s a very good chance that the rumors are true. It would certainly only add to his arsenal of lucrative businesses, which include a popular nightclub, a newly introduced sports management agency and an artist management agency, among a slew of his other entrepreneurial ventures.
In a 2009 interview with Men’s Health, the “Open Letter” rapper expressed that each of his business ventures have sentimental value.
“My brands are an extension of me. They’re close to me. It’s not like running GM [General Motors], where there’s no emotional attachment. My thing is related to who I am as a person. The clothes are an extension of me. The music is an extension of me. All my businesses are part of the culture, so I have to stay true to whatever I’m feeling at the time, whatever direction I’m heading in. And hopefully, everyone follows.”
Must be nice!