Jay-Z’s Investment In Fanatics Brand Helps It Reach $18 Billion Value
Fanatics has jumped in value, and various investors–including Jay-Z–played a big role in it!
Yesterday (Aug. 10), CNBC reported that Fanatics–a sports merchandise company–has been valued at $18 billion. The increase in the company’s value comes as a result of $325 million being raised by various investors, including rapper-turned-entrepreneur Jay-Z (real name Shawn Carter). Additionally, Jay-Z‘s entertainment company–Roc Nation–was also involved in the investments.
In addition to Jay-Z and Roc Nation, Major League Baseball (MLB) and SoftBank Group–a Japanese investment company–also have stakes in Fanatics.
Fanatics’ jump to an $18 billion value comes just five months after it was reportedly valued at $12.8 billion. Additionally, this time last year, the company was valued at $6.2 billion. Resultingly, the company’s financial worth is growing at a rapid rate!
Amid Fanatics’ increase in value, the sports merchandise company reportedly claims it will rake in about $3.4 billion in revenue during 2021. Additionally, the company is considering venturing into new pursuits like sports gambling.
Jay-Z‘s investment into Fanatics comes amid various other recent money moves. In late July, Jay-Z and Will Smith partnered up to invest in Landis Technologies, a company that seeks to help low-income renters purchase homes.
Additionally, Jay-Z recently reopened his Manhattan sports bar, 40/40 Club. In doing so, he reportedly hired 100 people for bartending and serving jobs. Regarding his reopening of the establishment, sources claimed:
“Jay is attempting to stimulate the food and nightlife economy in NYC.”
What do you think about Fanatics being valued at $18 billion thanks to various investors, including Jay-Z? Comment down below to let us know!