- Lil Uzi Vert has shared how impressed he is with Jay-Z's latest business deal
- The US rapper has reacted to the news that Square Inc acquired a majority stake in Jay-Z's TIDAL at a value of $297 million (about R5 billion)
- Jay-Z said the new partnership will be a game-changer for many artist who use the music streaming platform
US rapper Lil Uzi Vert has taken to social media to share his thoughts on Jay-Z's recent business moves.
Uzi is definitely impressed by the rap mogul's recent money moves. Jay-Z took to Twitter on Thursday, 4 March to reveal that Square Inc, owned by Twitter co-founder Jack Dorsey, has acquired a majority stake in his TIDAL at a reported value of $297 million.
Reacting to the news, Lil Uzi Vert took to the micro-blogging app and tweeted:
"Damn near 300 million on a weekday and Hov still said it was a weak day. Insane."
Jay-Z, who is married to Beyoncé, said the new partnership will be a game-changer for many artists.
"I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey," he tweeted.
Tweeps have also shared their reactions to Hov's tweet. Check out some of the comments below:
"300 mil a weak day?"
"Jay-Z remains one of my biggest inspirations. Born in the projects, built his own dynasty, self made billionaire, & did it all the right way. When I was down, broken, & alone his music was the only thing that kept me together. Every artist today owes Hov their LIVES."
"Thank You J for this platform. I truly hope it will showcase and eventually incorporate a place for us aspiring artists to post covers :) I can’t wait one day to be signed in your label, and be the 2nd Cameroonian to get a Grammy for our country."
"Congratulations! Thanks for everything you do! We appreciate it! A legend in the game of hip hop and you don't stop. You want to see artists reach the top and help them get the album to drop!"
Jack took to Twitter and shared that he and the hip-hop mogul have both invested 500 Bitcoin (worth about R346 million) into the project. Jack tweeted:
"JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start."
Jack explained that he and the US rapper will not be directly involved as far as running of the trust is concerned hence they need the board members to start the project.
Social media users have shared mixed reactions to Jack's post. @DanielRegha wrote:
"No disrespect Jack but such 500 BTC new endowment should be set up in places suffering from hyperinflation like Lebanon who need these funds the most cos their banks aren't favouring them, moreover a lot of African countries are kicking against Bitcoin or anything cryptocurrency."
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