Jay- Z continues to grow his net worth!
Just one week after it was announced that the mogul sold half of Armand de Brignac to LVMH, he has now sold majority ownership of TIDAL to Jack Dorsey’s Square.
As The Source reports, Square is slated to pay a mix of money and stock in the amount of $297 million, as the other shareholders, the artists, will remain the same. Jay- Z has also acquired a seat at the table. He will now be apart of Square’s Board of Directors.
Jay took to Twitter to speak on the massive sell. “I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers.”
He continued, “Artists deserve better tools to assist them in their creative journey. Jack and I have had many discussions about TIDAL’s endless possibilities that have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board. This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!”
See the entire thread below.
I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey.
— Mr. Carter (@sc) March 4, 2021
Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board.
— Mr. Carter (@sc) March 4, 2021
This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!
— Mr. Carter (@sc) March 4, 2021