Jay-Z named chief visionary officer of cannabis giant

An entertainment powerhouse, award-winning rapper, entrepreneur and now chief visionary officer of a growing cannabis company.

Yes, that’s a blip of what Jay-Z’s resume now includes, after the announcement this week that he’d be joining the team at cannabis giant TPCO.

On Tuesday, Subversive Capital Acquisition Corp. announced it acquired two California-based cannabis brands named Caliva and Left Coast Ventures. Moving forward, the brands will operate under TPCO Holding Corp.

In addition to the acquisitions, the parent company announced Shawn “Jay-Z” Carter would be helping lead the way into 2021 once the deal is finalized in the early New Year.

In a statement, Jay-Z said: “Although we know we can’t fully redeem the injustices created by the ‘war on drugs’, we can help shape a brighter and inclusive future.

“The brands we build will pave a new path forward for a legacy rooted in equity, access, and justice. We’re creating something people can trust and we’re investing in our future, our people, and our communities.”

The parent company said it has committed to spending $10 million per year, as well as at least 2 per cent of its net income, in minority-owned and Black-owned cannabis businesses.

Those funds will also include supporting bail reform, industry vocational training, job placement, expungement clinics and Social Equity application support.

In mid-October, Jay-Z launched MONOGRAM with Caliva, a new cannabis brand.

Like us on Facebook and follow us on Twitter.