After 50 cent's 400 million dollar check for vitamin water and his forbes nod it seems like some rappers are on a race to a billion dollars contenders are 50 cents,Jay-z, Dr Dre,and P diddy. The two that are in the lead seem to be Jay-z and 50 cent first let's see where Jay- z is at right now.
According to Reuters, Iconix, the owner of brands such as Joe Boxer and Candie's, chose to acquire Rocawear to diversify its portfolio of brands and raise its 2007 earnings outlook. The company expects Rocawear to generate about $43 million in royalty revenue in the first 12 months under its fold.As part of their agreement, Jay-Z (born Sean Carter), will continue to be chief creative officer of Rocawear and will also retain his stake in the operating company. Hov's partners, Alex Bize and Norton Cher, will continue to run the company and enter into a long-term license agreement with Iconix.
Also as part of the deal, Iconix will also enter into a separate joint venture with the Brooklyn bred rapper to establish a new brand management and licensing company to identify brands to be acquired or developed.
Nice good business a company that will buy and develop other brands now that's sound business. I guess it will take a lot to top that 50 cent 400 million dollar check.
To tell you the truth these guys need to diversify away from entertainment and clothing and seek out other meaninful assets like: oil,real estate,investment banking,and commodities yall should holla at billionaire Bob Johsom he's starting a private equity fund.
Nevertheless i'm still proud of the Hip-Hop generation getting that money keep it up it's the generation of the hustler get those reparations my brothers LOL.
Remember the Golden rule people he who has the Gold will rule.
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