Jay-Z and Beyoncé are masters at making power moves when negotiating business deals. According to Forbes, the power couple’s combined net worth is estimated at $1.4 billion. In the age of technology, streaming, and digital downloads, Beyoncé and Jay-Z have not only been able to adapt to the way the world buys music, but they’ve also skillfully used their influence to create lucrative business deals. Their business savvy speaks volumes and their net worth is proof. Here are some points behind some of the duo’s business deals:
Don’t Overlook Second Best
Jay-Z has a thing for partnering with companies that are extremely well-known, but don’t quite hold the number one position in their respective fields. For example, in 2003, Jay-Z made history with a Reebok deal. His signature shoe, the “S. Cater,” collection ended up being the fastest-selling shoe in Reebok history. He also promoted his autobiography, “Decode,” via Bing in 2010. Then in 2013, Jay-Z released his 12th studio album, Magna Carta Holy Grail, through a $5 million deal with Samsung mobile.
Equity is King
Beyoncé’s Uber deal was a chess move as she was thinking long-term and it paid off. In 2015, Uber offered Beyoncé $6 million to perform at a Las Vegas event, according to Refinery29. She reportedly turned down the cash in exchange to be paid in equity/stocks. Fours years later the rejected $6 million is now worth about $9 million in stocks.
Project Your Rights
Clearly Beyoncé is not interested in playing checkers. Her forward-thinking paid off big in her deal negotiation with Coachella. Refinery29 reports that settling for $4 million for her performance, plus rights to her show allowed Queen Bey to land a $60 million deal with Netflix, which streamed “Homecoming” on their platform.
Use Your Influence
Jay-Z’s success came with his influence that he uses as leverage to negotiate business deals he would otherwise not be privy to. In 2008, he launched Roc Nation, an entertainment company that works with artists, producers, athletes, and songwriters. Later in 2013, Roc Nation Sports was founded as a way to support and advocate for athletes similar to the way they do for artists in the music industry. Their roster includes, Skylar Diggins-Smith, Dez Bryant, Victor Cruz, Kyrie Irving, and more that could be found listed on the company’s site.
Jay-Z has a knack for investing in startups that show potential. By investing early in a promising company, the payout can be life-changing in just a few short years. For example, take his investment in Uber. In 2011, the billionaire was involved in Uber’s Seed B funding round when the company had a value of $300 million, according to TechCrunch. The company has since boomed and is now valued at over $60 billion.
Editorial Note: As sources from this piece have since updated their numbers, we have also updated and revised this piece to match our editorial standards.
This article was originally posted on Afro Tech’s website
When Does It Stop by Suless Burton
Hyde Park, Chicago, IL- Located at the Harper Theatre, nestled in the Hyde Park neighborhood of Chicago, premieres an independent film, created and directed by a brilliant Black woman named Suless Burton.
Graced by an almost all Black cast, When Does It Stop gives the viewer sharp insight of the daily lives of Black Chicagoans. While speaking with the stars of the movie, Durrell Parchman, playing the role of Drew in the film, discussed the relevance of this story line and how it relates to the Black Chicago community’s tragic experiences with gun violence. Mentioning his late brother, slain earlier this summer by gun violence, Durrell emphasized the importance of this film and the impact it will make for the future. Actors KeAnte Smith (Terrence) and Xavier Lofton (Eric) also mentioned the importance of impact they have contributed via this film and have positive hopes that gun violence in Black Communities abroad will cease.
When Does It Stop
After losing his mother to the streets and father institutionalized for life, Terrance is sent to live with his sister Camille on the south side of Chicago. Terrance’s friends Ronnie, Eric, and Drew, are all living the life of crime and violence. With the help of his sister and supportive girlfriend Nina, Terrance finally plans to leave Chicago after a series of neighborhood gang incidents and increasingly tragic events. After receiving life-changing news, Terrance realizes that moving away may not be such a bad idea after all. But, is it too late?
About the Author
For years Suless Burton had this dream to do this movie but something always detoured her from doing it. The time became serious when her oldest son Andre Francis Jr. started his company called Beast Productions then her and him said they were gonna take over the world but tragedy came. Her son died from in asthma attack in 2018. A year later after suffering from severe depression she decided it was time to jump out on faith but then COVID 19 hit. Five months later with the help of social distancing and face mask Suless finally filmed When Does it Stop and dedicated it to her son Andre James Francis Jr and a couple more cast family members who were killed in chicago in the making this film.
KeAnte Smith plays Terrance
Durrell Parchman plays Drew
Johnell Pommier plays Ronnie
Xavier Lofton plays Eric
Suless Burton plays Camille
When Does It Stop will be available soon on Netflix. You can follow this film on Facebook @WhenDoesItStop and on Instagram @WhenDoesItStop2021 for the latest updates.
Voice of the Chi Interview with Ava’s Pet Palace
Voice of the Chi Interview with Jahmal Cole
Latest News3 years ago
2020 Legacy Awards Gala brings 700 black entrepreneurs Together
Community2 years ago
‘Black-Owned Business’ signs show solidarity in communities hit hard by looting
Business2 years ago
New Black owned joint venture in Orland Park!
Culture3 years ago
Recovering….A Conversation about Queen & Slim, Blackness and Possibility
Community2 years ago
Voice of the Chi Salutes Community Hero Diane Latiker!
Community2 years ago
Top COVID19 Resources for Black-Owned Businesses
Business2 years ago
All Coffee Drinkers Are Not Created Equally
Business3 years ago
Master P and Romeo Talk Generational Wealth