Jay-Z, Will Smith, Kevin Durant Invest In Life Insurance Company
Jay-Z has proved to be a formidable businessman. The Brooklyn native has repeatedly solidified himself as a successful entrepreneur with a business portfolio spanning a variety of industries from clothing, beverages, real estate, music streaming, sports management and record companies. The multi-platinum rapper recently said,
My brands are an extension of me. They’re close to me. It’s not like running GM, where there’s no emotional attachment.
That emotional attachment that Jay-Z was speaking of, may actually be one of the deciding factors in his business success. He was a part owner of the Brooklyn Nets team and has snagged the streaming service Tidal.
His latest business venture however, may surprise even the most die hard Jay-Z fan.
Jay-Z’s Roc Nation and the family funds of Kevin Durant, Robert Downey Jr, and Will Smith all participated in the new round of funding for a company called Ethos. The company bills itself as a business making life insurance accessible affordable and simple.
What makes the life insurance industry interesting for investors is the fact that consumers interests in it continue to decline. Whether it’s because no one trusts companies to actually pay out or because Americans are putting their faith in anti aging technologies, people are just not buying life insurance the way that they used to. When potential investors see this type of decline, the assumption is there is room for new companies to come in and provide a better service to the market.
Ethos is licensed in 49 states. The company hopes to make life insurance available for consumers who have college debt, mortgages, spouses and children.
Jay-Z and his wife Beyonce are currently on tour for OTR 2.
Written by DJ Diamond K