Jay-Z Joins the Legal Marijuana Industry as a Cannabis Company Brand Strategist
Drug money moves.
Jay-Z is joining the legal marijuana industry as a chief brand strategist in partnership with a California cannabis company.
According to The Hollywood Reporter, the rapper and mogul released a statement on Tuesday announcing that he entered a multiyear deal with San Jose-based Caliva. His role will consist of helming the company’s creative direction, outreach efforts, and strategy for the brand.
Jay called Caliva “the best partners for this endeavor” and says he also aims to increase the economic participation of people returning from incarceration through job training and workforce development.
Caliva operates a farm and two stores in Northern California and distributes its branded products in about two dozen other retail outlets in the state.
NFL legend Joe Montana’s venture capital firm contributed to a $75 million investment in Caliva earlier this year.