Jay-Z Selling Nets Share to Jason Kidd Worth $500,000

Jay-Z is tagged as one of the richest rapper-entrepreneurs in the world. This after having a net worth of $500 million and owning stocks at the NBA team New Jersey Nets, Arsenal Football Club, 40/40 nighclubs and Def Jam Records, among others.

Recently, he just started his own sports representation agency Roc Nation Sports and he is reportedly dropping some of his assets to avoid conflict of interests. Former franchise point guard Jason Kidd, who just retired from the NBA, has showed his interest investing in the New Jersey Nets to become their part owner. He is reportedly buying Jay-Z’s minority ownership worth $500,000 (.067 percent or 1/15th of a percent). Kidd signed as Net coach in June this year. Roc Nation has signed clients such as Oklahoma City’s ace player Kevin Durant and Yankee’s Robinson Cano.

Back in 2003, it was actually Kidd who brought Jay-Z to the team when he suggested to the rapper to buy the Nets. He then introduced Jay-Z to Drew Katz, the son of one of the team’s owners. Upon entering the team, Jay-Z has had made few changes, including their new logo which is black-and-white color scheme and influencing the culture of the new Barclays Center.

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Jay-Z Selling Nets Share to Jason Kidd Worth $500,000