Jay-Z is one of the most dynamic figures in contemporary culture. He is a master of transformation, a modern-day alchemist who seems capable of turning virtually anything he touches into part of an ever-growing cultural, artistic, business, and financial empire.
Now, he’s turning his attention to the legal cannabis space. And in typical Jay-Z form, his entry into the legal industry is promising to be transformative—not only for the artist but for the industry as a whole.
Jay-Z Announces New Partnership with Caliva
High Times has just learned that Jay-Z has formally entered a partnership with Caliva, a leading cannabis company based in California.
Founded in 2015, Caliva currently owns 14 cannabis licenses and is one of California’s largest producers of cannabis and cannabis products, cultivating nearly 11,000 pounds of cannabis annually.
Under the terms of the new partnership, Jay-Z will take over as Caliva’s Chief Brand Strategist. In this role, he will spearhead the development of the company’s industry-facing and customer-facing brand.
At this time, it is unclear exactly when Jay-Z will take over his new post. Similarly, the company has not yet disclosed any financial details regarding the partnership.
An Industry-Wide Milestone?
For many in the cannabis space, Jay-Z’s formal entry into the legal industry has implications that extend far beyond his work with Caliva.
Specifically, many see Jay-Z’s presence in the industry as a strong indicator of just how much cannabis’ cultural, legal, and economic status has evolved. His entry is also being hailed as a marker of where the legal industry is today and how big it’s becoming.
“Jay is one of the most successful businessmen of our time, and one of the largest brands in entertainment himself,” said High Times CEO and President Kraig Fox. “As we’ve said before, 2019 is the year of the brand for cannabis. Jay-Z entering the space is clear evidence of that.”
Published: July 09, 2019
Founder & Interim Editor of L.A. Cannabis News