- Rihanna and Nicki Minaj are set to receive a huge payout form Jay-Z's Tidal streaming service
- A number of other artists are also invested in the company and are going to receive over $8 million (R132 million)
- Twitter CEO Jack Dorsey gave insight into why he collaborated with Jay-Z and bought into Tidal
Rihanna and Nicki Minaj are two of the most successful female artists of all time and life just keeps getting better for the pair. The musicians have received a payout from Jay-Z's music, podcast and streaming service, Tidal.
Jay-Z has completed a massive sell-off of Tidal to Jack Dorsey, the CEO of Twitter. A number of musicians invested in Tidal when Jay-Z bought it in 2015. Some of the names include J. Cole, Madonna and Calvin Harris, to name a few. Rihanna and Nicki are included.
Jay-Z's partners were given 3% in value for Tidal and it's understood that every one of them will be receiving around $8.91 million (R132 million). The rapper's business decisions have been questioned in the past but it seems like his work is starting to pay off.
Jack Dorsey took to Twitter talk about the impact that Tidal is making in the entertainment world, saying:
“Tidal started with the idea of honouring artists by being artist-owned and led, focused on an uncompromised experience of the art."
Jack said that it is refreshing to see the success of the streaming platform and the vision is bright.
Briefly.co.za previously reported that Jay-Z's nett worth increased as he bagged a new deal with LVMH. US rapper Jay-Z is already a billionaire but his nett worth is about to get even bigger. Luxury brand LVMH has just bought half of Jay-Z's champagne brand, Ace of Spades.
The rapper was declared a billionaire by Forbes back in 2018. Jay-Z's champagne brand is also known for producing the luxury cognac called D'Ussé. His bank account is about to expand even more.
According to a report by The New York Times, Jay-Z says that he always planned to grow his brand. Before Jay-Z made the deal with LVMH, he and his wife Beyoncé were valued at around $1.35 billion (R19 billion).
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Source: Briefly News