Jay-Z continues to expand his business portfolio. He will be investing in a money market application as his next move.
According to his new venture capital firm ARRIVE, Jay is investing in Robinhood which allows for free stock trading. Originally founded in 2013 the brand boasts over three million users to date and is currently valued at 1.3 billion, yes billion, dollars.
The service also allows subscribers to trade crypto currency including Bitcoin and Etherium. Additionally, the brand announced Robinhood Crypto in January.
This is ARRIVE’s third investment into the technology sector. They have also bought into Devialt, a French audio company and InSite, a location-sharing platform that’s set to launch later this year.
According to a press release “ARRIVE was created to leverage our experience and resources in building brands, developing consumer facing businesses, managing artists and representing athletes. We’ve opened that diversified, global range of expertise to a new vertical: entrepreneurs and their early stage businesses.”
Considering the 4:44 tour was his highest grossing of his career it is a safe bet Jay will continue to win big into 2018.