Rapper and hip-hop mogul Shawn “Jay-Z” Carter is selling his Rocawear clothing company for $204 million in cash to Iconix Brand Group. The deal which was announced yesterday may also land him a nice bonus of $35 million in Iconix stock, if the Rocawear brand meets a few performance markers in the next three to five years.
To ensure that happens, Iconix is keeping Jay-Z on to oversee the marketing, licensing and product development of Rocawear. I’m sure with the $35 million incentive, it didn’t take much for him to accept this position.
Damon Dash who helped found Rocawear must be seriously regretting selling his portion of this lucrative clothing line last year.
(via YGG)
Jay-Z is a marketing genius. He has talent, smarts and one of the hottest girlfriends on the planet!
He just keeps getting richer and richer. Maybe it’s true about him using Cristal as windshield wiper fluid. :p
When’s he going to marry Beyonce? He can’t be a bachelor all his life.
He is idol for many young boys…
How much richer can you be…Checked out Iconix’s portfolio, some pretty big clients they got there.
The next Donald Trump, just got PIMP-ier.
Share the wealth Jay!
Rocawear is pretty popular, but a possibility of $204 millions richer, thats just awesome