Shawn “Jay-Z”Carter didn’t become a billionaire by accident. Now the hip-hop mogul has expanded his investments into the cannabis industry – and the CEO of Caliva, the company he’s partnered with, welcomes the opportunity to further integrate into the culture that Jay brings, reported CNBC.
“We obviously have aspirations to go beyond California into other states over the next couple of years, and we really believe that Mr. Carter’s creative genius and his ability to really have the pulse of what a cultural movement is will be able to help Caliva do that,”Caliva CEO Dennis O’Malley said.
Through the partnership, Jay-Z will serve as the Chief Brand Strategist and use his role to help citizens returning from incarceration take advantage of economic opportunities the legalization of marijuana has brought.
Listen to GHOGH with Jamarlin Martin | Episode 54: Frederick Hutson, PT 2
Part 2: Jamarlin talks to justice-tech pioneer Frederick Hutson, who founded Pigeonly to create communications products for inmates and their families. They discuss how he raised capital, the importance of focus, and spending too much time perfecting the product before launch. They also discuss Jay-Z’s blueprint for parting ways with team members via his break-up with Damon Dash.
“In this position, Mr. Carter will focus on and work to increase the economic participation of citizens returning from incarceration – many of who are not seeing the monetary benefits of legalization – through advocacy, job training, and overall employee and workforce development,” Caliva’s website states.
In a statement about his partnership with the California-based weed company, Jay-Z said the company was a good fit for his venture into the cannabis industry.
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 them the best partner for this endeavor. We want to create something amazing, have fun in the process, do good and bring people along the way,” Jay-Z said.
