UPDATE: Jay-Z Reportedly Parted Ways w/ Cannabis Company Before It Hit Rough Patch

UPDATE: Jay-Z Reportedly Parted Ways w/ Cannabis Company Before It Hit Rough Patch

Update (Dec. 4, 2024): Jay-Z’s cannabis company Monogram is no longer connected to The Parent Company amid reports it blew through $575 million in cash and is struggling, sources tell TMZ. One source said, “Jay-Z stepped away years ago and it just went up in a mess.”

It looks like the separation happened two years ago, and the company is owned by another party.

Original Story (Dec. 3, 2024):Jay-Z’s cannabis brand, Monogram, founded in 2020, doesn’t seem to be doing so well.

Despite Jay-Z’s involvement as the brand’s visionary, Monogram’s pricey $50 joints haven’t resonated with consumers. Cannabis investor Seth Yakatan commented, “Like many other things we’ve seen in cannabis surrounding rappers, the hype hasn’t met the reality,” pointing out that California’s oversaturated pot market, with high taxes and complex regulations, has made it difficult for top brands to thrive.

 

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In 2022, Monogram’s parent company, The Parent Company (TPCO), reported a staggering $587 million loss, and it appears Jay-Z parted ways with the company shortly after.

Today, Monogram’s website lists nine retailers in California and Arizona that carry its products, but none feature Jay-Z’s cannabis buds or joints on their online menus.

Will Monogram be able to turn things around, or is it too late for Jay-Z’s cannabis brand? Share your thoughts below!