One of California’s leading cannabis companies named Jay-Z as chief brand strategist

WHAT’S BEING CLAIMED:

  • Shawn Corey Carter, more popularly known as Jay-Z, is not only a performer but also a record producer and a talented businessman.
  • The rapper has just been named chief strategist at Caliva — one of California’s leading companies in the cannabis industry.
  • Jay-Z is not the first celebrity to get into the cannabis industry; Leafs by Snoop is actually Snoop Dogg’s own brand of cannabis products. Whoopi Goldberg also launched a range of marijuana-based products to ease menstrual cramps.

Shawn Corey Carter, more popularly known as Jay-Z, officially became the first billionaire rapper in June. Queen Bey’s husband doesn’t just earn a living from the music industry where he is not only a performer but also a producer.

The record executive amassed his fortune from entertainment labels, a clothing line, alcohol brands and a sports club. Jay-Z’s money-making businesses are pretty diverse.

And no one’s stopping the rapper from venturing into a new field. Jay-Z has just been named chief strategist at Caliva — one of California’s leading companies in the cannabis industry.

“He will play a crucial role driving creative direction, outreach efforts, and strategy for the brand,” the announcement stated on the San Jose based company’s website.

According to Jay-Z, he sees potential in the business.

“Anything I do, I want to do correctly and at the highest level. With all the potential in the cannabis industry, Caliva’s expertise and ethos makes [sic] them the best partner for this endeavor,” said the rapper, according to Variety. “We want to create something amazing, have fun in the process, do good and bring people along the way.

In 2018, recreational use of cannabis was legalized across several states in the US. However, the industry isn’t exactly the strongest, so the partnership will likely come as a welcome addition to Caliva.

Les Echos cited BDS Analytics’ findings that legal cannabis sales in 2018 dropped to $2.5 billion, that’s $500 million less than in 2017.

When Caliva President Dennis O’Malley spoke on CNN, he said that the collaboration with Jay-Z would allow “important changes for the industry in terms of visibility”.

Jay-Z is not the first celebrity to get into the cannabis industry; Leafs by Snoop is actually Snoop Dogg’s own brand of cannabis products.

In 2016, Whoopi Goldberg also launched a range of marijuana-based products to ease menstrual cramps.

 

Source: AOL

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