Jay-Z Invests In Michael Rubin's Sports Merchandising Company Fanatics

BYAron A.Updated on September 26, 20221.6K Views

Michael Rubin's sports merch company Fanatics is now valued at $18 billion.

Jay-Z's empire continues to grow with his latest money move. Per CNBC, the rapper is among a new bunch of investors to back Michael Rubin's sports merchandising company Fanatics. Rubin's company is now valued at $18B after securing another $325M in investor funds. Fanatics' latest financial stride will help them expand outside of simply merchandising. While Fanatics is expected to make $3.4B this year, the company is hoping to jump into other industries like sports gambling.

Erik Voake/Getty Images

Hov has been making major plays since the top of the year. It was announced at the top of the year that his champagne brand, Ace Of Spades, entered a joint partnership deal with LVMH's spirit's branch, Moet. The rapper retained 50% of the company as its valuation spiked at $630M.

Along with his liquor deal, the rapper's ventures into the cannabis industry have been fascinating. Monogram is Jay's luxury cannabis line which is expected to produce upwards of 900,000 pounds of cannabis flower.

Additionally, Jay-Z's TIDAL deal made massive airwaves after Square acquired an 80% stake in the streaming service for $302M.

On a music-related tip, Hov recently reunited with Kanye West for the first time in years for DONDA. Shortly after attending the second listening party in Atlanta, Justin LaBoy announced that Jay and Kanye would be locking in for Watch The Throne 2 and dropping it before the year ends.

[Via]

About The Author

Aron A.

Aron A. is a features editor for HotNewHipHop. Beginning his tenure at HotNewHipHop in July 2017, he has comprehensively documented the biggest stories in the culture over the past few years. Throughout his time, Aron’s helped introduce a number of buzzing up-and-coming artists to our audience, identifying regional trends and highlighting hip-hop from across the globe. As a Canadian-based music journalist, he has also made a concerted effort to put spotlights on artists hailing from North of the border as part of Rise & Grind, the weekly interview series that he created and launched in 2021. Aron also broke a number of stories through his extensive interviews with beloved figures in the culture. These include industry vets (Quality Control co-founder Kevin "Coach K" Lee, Wayno Clark), definitive producers (DJ Paul, Hit-Boy, Zaytoven), cultural disruptors (Soulja Boy), lyrical heavyweights (Pusha T, Styles P, Danny Brown), cultural pioneers (Dapper Dan, Big Daddy Kane), and the next generation of stars (Lil Durk, Latto, Fivio Foreign, Denzel Curry). Aron also penned cover stories with the likes of Rick Ross, Central Cee, Moneybagg Yo, Vince Staples, and Bobby Shmurda.