VOLUME 4 NUMBER 48

JAY-Z'S WEED BUSINESS Goes Up In Smoke

Posted by Nd Business on 4th Dec 2024

JAY-Z'S WEED BUSINESS Goes Up In Smoke

NEGRO DIGEST ™ The Only Magazine For Black Men In America

How a California pot company went from $575 million in cash to a 'debt death spiral'

Monogram, the line of $50 pre-rolled "luxury joints" owned by SHAWN "JAY-Z" CARTER (55), has burned through half a billion dollars and is no longer on shelves. Critics say that Monogram's joints failed to stay lit for “more than a few seconds.” Jigga and Monogram have reportedly bounced to another partner (who is also losing money) and left his former parent company, The Parent Company, with an estimated loss of $575 million.

This is just the latest setback for Carter's business ventures. Last month, employees at the tech firm, Block, received “stern warnings” not to mention the rapper's name and said it was "scaling back" its investment in Carter's music platform, Tidal.


Source: SFgate.com