Jay-Z has been a major presence in the music industry for over two decades now, and his influence has only grown over time. While Jay-Z has had success with his own label and ventures, he recently made headlines when he sold a portion of his Tidal streaming music service to Spotify. This move seemed to signal that Jay-Z was no longer interested in the streaming music business and was instead focusing on other projects. But does Jay-Z still own Spotify?
The answer is yes, but it’s a bit complicated. In 2017, Jay-Z sold 33% of Tidal to Spotify for an undisclosed amount of money. As part of the deal, Spotify acquired exclusive rights to some of Jay-Z’s music catalog, including albums from artists like Kanye West and Beyonce. However, it appears that Jay-Z still owns some portion of Tidal, and he is still the majority shareholder in the company.
In addition to his stake in Tidal, Jay-Z also recently acquired a small stake in Spotify itself through his investment firm Marcy Venture Partners. This stake is reportedly worth around $350 million dollars, making him one of the largest shareholders in the company. It’s unclear exactly how much influence this gives him over Spotify’s operations, but it certainly shows that he still has some skin in the game when it comes to streaming music services.
Despite selling a portion of Tidal to Spotify and acquiring a small stake in the company himself, it appears that Jay-Z still has some ownership interest in both companies. He may no longer be as involved as he once was with running either service, but he clearly still has an interest in both companies and their success.
Conclusion:
Yes, Jay-Z does still own a portion of both Tidal and Spotify even after selling 33% of Tidal to Spotify for an undisclosed amount of money. He also recently acquired a small stake worth around $350 million dollars through his investment firm Marcy Venture Partners which shows that he still has an interest in both companies.
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