What more can be said about the immensely business savvy rap legend himself, Jay-Z? From blowing the roof off of emerging industries with his line MONOGRAM to his $630 million champagne brand, there’s no denying that he’s made quite name for himself in the vast sea of business. The rapper brings in yet another venture by investing in LIT Method, a major Los Angeles grown fitness system company.
The perfect way to burn off that stubborn quarantine weight, LIT Method produces top of the line workout equipment with all sorts of features. For those intense summer body exercises, the popular Strength Machine comes with a digital platform which, “allows you to stream live and on-demand classes anytime, anywhere,” as stated on the company’s website. With the brand being the leading force in low impact training equipment, it’s no wonder that Jay-Z and his investment firm Marcy Ventures took to the product – alongside MLB All-Star Adrian Gonzalez.
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LIT Method was founded by married duo, Justin and Taylor Norris in 2016. While in the process of recovering from their own injuries, the two set out to create an all ages personal training system which incorporated important aspects like accident prevention and physical therapy.
Co-founder of Marcy Venture, Larry Marcus proclaim the entrepreneurs as “tenacious and adaptive entrepreneurs with so much drive and passion,” according to a statement by the firm, “Their engaging content, motivating style, and innovative equipment are a winning combination.”
This isn’t Jay-Z’s first time at the rodeo when it comes to investments in fitness related companies. In the last year, alongside Novak Djokovi and Pitbull, the icon backed a rock climbing system company called CLMBR in support of its 2021 initiatives, CLMBR Pure and CLMBR Connected.
“We are excited to work with Jay-Z to bring the best modality in fitness to consumers,” CEO and founder of the company Avrum Elmaki tells in a statement.
Countless ventures like these make Jay-Z one of the most proactively affluent businessmen in the country – let alone the music industry. With the major successes of his champagne brand and music streaming service Tidal, the consummate entrepreneur’s wealth has skyrocketed 40%, according to Forbes. With a current net worth of an estimated $1.4 billion, Jay-Z stands as the richest rapper in the game. And with announcements of new endeavors, it looks like this mogul won’t be stopping anytime soon.
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Sources: Yahoo! Finance, People, Hot New Hip Hop, Forbes
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