Jay-Z Rewrites Celebrity Investors Playbook

When the developer Bruce Ratner set out to buy the New Jersey Nets and build an arena for them in Brooklyn, he recruited Jay-Z, the hip-hop superstar who grew up in public housing a couple of miles from the site, to join his group of investors.

Mr. Ratner may have thought he was getting little more than a limited partner with a boldface name and a youthful following that could prove useful someday. But Jay-Z’s contributions have dwarfed the $1 million he invested nine years ago. His influence on the project has been wildly disproportionate to his ownership stake, a scant one-fifteenth of one percent of the team. And so is the money he stands to make from it.

Now, with the long-delayed Barclays Center arena nearing opening night in September and the Nets bidding in earnest for Brooklyn's loyalties, Jay-Z will perform eight sold-out shows to kick things off. But away from center stage he has put his mark on almost every facet of the enterprise, his partners say.

Continue reading at NYTimes.com ...

Please Support Our Sponsors
Become a sponsor.

Latest News & Articles

Rihanna Fenty

Rihanna's lingerie company Savage X Fenty, known for its inclusivity of all body types, is reportedly planning a public offering at a reported $3…

Serena Williams, tennis champion and successful businesswoman and partner Alison Rapaport Stillman has raised a new fund, Inaugural Fund with $111M in…

Robin Rihanna Fenty

Robin Rihanna Fenty, the multi talented Barbadian entrepreneur, known best for her multi platinum selling music career, has raised $125 million for…

Frank Clyburn

International Flavors & Fragrances announced on January 20, 2022, the appointment of Frank Clyburn, an accomplished leader and operational executive,…

Sean Combs

Mr. Combs, 52, won back ownership with a $7.55 million bid in an auction to save Sean John from bankruptcy, according to court documents. Mr. Comb's…

Recently Added Black Executives

Bill Spruill

Born: Goldsboro, North Carolina; Occupation: Businessman; Position: Co-founder & President; Company: Global Data Consortium; Industry:…

Yannick Lefang

Born: France; Occupation: Businessman; Position: Founder & CEO; Company: Kasi Insight Inc.; Industry: Market Research; Residence: Canada; …

Russ Hutchinson

Occupation: Businessman; Position: Chief Strategy Officer; Company: Goldman Sachs; Industry: Financial Services; Residence: United States; …

Asahi Pompey

Occupation: Businesswoman, Lawyer; Position: Partner, Global Head of Corporate Engagement & President of the Goldman Sachs Foundation; Company:…

Darren Dixon

Born: c. 1987; Occupation: Businessman; Position: Partner; Company: Goldman Sachs; Industry: Financial Services; Residence: United States; …

FTC: Black Entrepreneur & Executive Profiles is reader supported, we may earn income on affiliate links. You support us by using our links to buy products, it will cost you nothing extra.

We also a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.

Learn more...