According to multiple sources, the focus will be startup tech companies.
Giving new meaning to the word hustle, Jay Z's latest move may not break the Internet-like the announcement that he and wife, Beyonce are expecting twins-but it will shake a few banks. The two are overseeing a $100 million venture capital fund.
Jay Z and Jay Brown are teaming up for a new venture capital fund. His slow crawl into the VC world can be traced back in 2011, when Roc Nation invested in Stance, a "premium sock company".
Analyst Earnings Estimates Review: Westlake Chemical Corporation (WLK)
Frontier Wealth Management LLC bought a new position in Westlake Chemical Partners during the second quarter worth about $697,000. The difference between the expected and actual EPS was $-0.25/share, which represents an Earnings surprise of -28.1%.
A report by Axios says the duo has previously invested in the tech space. After a very rough start highlighted by three different CEOs in the first year alone, Tidal recently sold a 33 percent stake in the firm to Sprint Corp (NYSE: S) in a deal which valued the company at $600 million.
Last year, Forbes ranked Jay Z third on their Hip Hop's Wealthiest Artists 2016 list, putting his net worth at an estimated $610 million. It's still unclear whether Jay Z saw any return on his money, but if he did, it's likely to be meagre.