JAY-Z: Cashes Out With Tidal Sale


The deal is valued at just shy of $300 million, plus a seat on the board of Square for Jay-Z.

The deal is valued at just shy of $300 million, plus a seat on the board of Square for Jay-Z.

TeeRoy's 2 Cents:

  • This is the second big move Jay-Z has made this year. Last month he sold off half his stake in Ace of Spades. 
  • Nobody does this mogul stuff quite like Mr. Carter.

Jay-Z’s Tidal has sold off a majority stake to Square, the mobile payments company run by Twitter co-founder Jack Dorsey.

The deal is valued at just shy of $300 million, plus a seat on the board of Square for Jay-Z. In addition, the superstar artists who had equity from the app’s launch —Beyonce, Madonna and Rihanna will all retain their stakes and become the second-largest shareholders. (Wall Street Journal)